Value for Money. Cost–Benefit Analysis

2011 ◽  
pp. 327-337
Author(s):  
Knut Veisten ◽  
Alena Erke ◽  
Rune Elvik
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Value For Money

scholarly journals PIH2 Does Fertility Treatment Provide Good VALUE for Money? a Cost-Benefit Analysis

2020 ◽  
Vol 22 ◽  
pp. S44
Author(s):  
E. Keller ◽  
W. Botha ◽  
A. Ortmann ◽  
L.R. Jorm ◽  
G.M. Chambers
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Fertility Treatment ◽  
Benefit Analysis ◽  
Value For Money

The Principles and Objectives of Cost-Effectiveness Analysis

1968 ◽  
Vol 72 (685) ◽  
pp. 43-53 ◽  
Author(s):  
A. Stratton
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Decision Processes ◽  
The Political ◽  
Benefit Analysis ◽  
Value For Money ◽  
Effectiveness Analysis ◽  
National Newspaper ◽  
Is Value

The terms “cost-effectiveness” and to a lesser degree “cost-benefit” analysis have become familiar words in the technical and national press, the former usually in relation to defence projects—the latter in relation to social projects, such as transport, power generation and building. Indeed, at the time of the last General Election the political correspondent of a national newspaper wrote, “Mr. Heath and Mr. Callaghan, Chancellor of the Exchequer, vied with each other in stressing the importance of cost-effectiveness, which used to be known as getting value for money”. The apparently simple concept of “value for money” raises three important issues: (i) how is “value” of defence and social projects quantified? (ii) what is the “money” involved, i.e. what are all the relevant costs? and (iii) what are the information and decision processes that are used in attempting to obtain “value for money“?

scholarly journals Cost-benefit analysis of outsourcing cleaning services at Mahalapye hospital, Botswana

2015 ◽  
Vol 5 (1) ◽  
pp. 114 ◽  
Author(s):  
Jonathan Cali ◽  
Heather Cogswell ◽  
Mompati Buzwani ◽  
Elizabeth Ohadi ◽  
Carlos Avila
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Public Hospitals ◽  
Unit Price ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Activity Based Costing ◽  
Value For Money ◽  
Hospital Managers

Objective: As part of its national privatization strategy to diversify the economy, Botswana has started outsourcing nonclinical services at seven public hospitals. Hospital managers are signing contracts without knowing whether outsourcing offers better value for money than “insourcing”. The objective of this study is to assist hospital administrators in making evidence-based outsourcing decisions.Methods: We conducted a cost-benefit analysis of cleaning services at Mahalapye Hospital. We take the hospital manager’s perspective when considering two alternatives: outsourcing, and “insourcing”. We used an activity-based costing approach and monetised benefits by weighting costs of the alternatives based on a service quality survey of hospital managers.Results: After adjusting per quality of the service, outsourcing provides greater value for money in terms of “cleanliness per pula spent” than insourcing. Incremental costs of outsourcing are Botswana Pula (BWP) 5 million (US $524,135) over five years but outsourcing is cost-beneficial after considering quality. The benefit-cost ratio of 1.06 means that outsourcing would return six cents in value for every dollar invested, resulting in net gains for Mahalapye Hospital of BWP 1.7 million (US $182,365) over five years.Discussion: Important lessons for hospital managers include: 1) Assessing the value of outsourcing requires information on the unit price of the outsourced services; 2) Outsourcing can be more costly than insourcing; 3) Outsourcing may be justified if it increases the quality of the service; 4) Collaboration between hospitals and vendors could reduce costs and increase benefits for both vendor and purchaser; and 5) Outsourcing should get more cost-beneficial as vendors and hospitals gain experience working together.Conclusions: The lessons from this study are relevant to other hospitals considering outsourcing agreements. Outsourcing requires managerial skills, supported by sound benchmark data and proper quality monitoring to streamline operations, achieve value for money and improve service delivery so hospitals can focus on core clinical services.

The Use of Cost-Benefit Analysis for Evaluating Efficiency of Public Investment Projects (The Case of Sochi-2014 Winter Olympic Games)

2011 ◽  
pp. 57-78
Author(s):  
I. Pilipenko
Keyword(s):  
Net Present Value ◽  
Olympic Games ◽  
Cost Benefit Analysis ◽  
Public Investment ◽  
Cost Benefit ◽  
Investment Efficiency ◽  
Benefit Analysis ◽  
Step Method ◽  
Investment Projects ◽  
The Usa

The paper analyzes shortcomings of economic impact studies based mainly on input- output models that are often employed in Russia as well as abroad. Using studies about sport events in the USA and Olympic Games that took place during the last 30 years we reveal advantages of the cost-benefit analysis approach in obtaining unbiased assessments of public investments efficiency; the step-by-step method of cost-benefit analysis is presented in the paper as well. We employ the project of Sochi-2014 Winter Olympic and Paralympic Games in Russia to evaluate its efficiency using cost-benefit analysis for five accounts (areas of impact), namely government, households, environment, economic development, and social development, and calculate the net present value of the project taking into account its possible alternatives. In conclusion we suggest several policy directions that would enhance public investment efficiency within the Sochi-2014 Olympics.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

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