This is an advanced way of looking at evaluation, that helps organisations demonstrate how they fit with public sector outcomes.
Cost benefit analysis is a way of measuring benefits in relation to costs of undertaking a particular project. Undertaking a cost benefit analysis can help you compare the ‘success’ of different projects or reflect on whether a particular approach was more successful.
Download the Unit Cost Database, part of the Cost Benefit Analysis tool on the New Economy Website.
Have a look at the cost of services such as an ambulance call out, a prison term, a year of an adult suffering anxiety and depression.
A prison term, for example, costs £37,543 a year.
Is there something you could do in partnership with a voluntary support organisation that would reduce the demand for these services?
For more depth, read about how to develop a cost benefit analysis, and speak with a community organisation about developing an idea to transform a service.
This exercise should take about 30 minutes.
Please record your learning in your reflection notes.