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This manual serves as a guide for conducting cost effectiveness and incremental cost analyses for the evaluation of alternative environmental restoration or mitigation plans. It presents a procedural framework for conducting the cost analyses and discusses how they fit into, and contribute to, the Corps planning process. The procedures included in this manual are based upon the conceptual framework of the U.S. Water Resources Council's Principles and Guidelines and comply with current Corps regulations and guidance on incremental cost analysis for environmental restoration or mitigation planning studies. Discussed in the manual are the conceptual underpinnings, practical procedures, and implications for decision making of cost effectiveness and incremental cost analyses. Also provided are instructions for accompanying automated computational procedures for conducting the analyses. These automated procedures will execute the otherwise time-consuming number-crunching, allowing planners more time to formulate and evaluate alternative plans and their outputs. (MM).
For over a decade the U.S. Army Corps of Engineers (Corps) has actively been involved in ecosystem restoration projects. As this new direction for the Corps has evolved, it has become increasingly clear that environmental restoration projects pose different planning challenges than traditional water resources development projects. The Evaluation of Environmental Investments Research Program (EEIRP) was initiated by the Corps to develop planning methodologies that respond to these challenges. Specifically, the EEIRP was intended to address what have become known as the 'site' and 'portfolio' questions: (1) How can the Corps determine whether the recommended action from a range of alternatives is the most desirable in terms of the environmental objectives? (2) How should the Corps allocate limited resources among many 'most desirable' environmental investment decisions? The Corps six-step planning process is based upon the U.S. Water Resources Council's Economic and Environmental Principles and Guidelines for Water and Related Land Resources Implementation Studies (P & G), promulgated in 1983. The P & G provides a decision-making framework that is equally applicable to traditional water resources projects and environmental restoration projects. However, the differences between these projects, such as restoration's predominance of nonmonetary benefits, require tailoring the planning process for ecosystem restoration. The Corps ongoing adaptations of the planning process include: (1) promulgating the various forms of guidance for environmental planning, (2) documenting field experience with planning environmental projects (i.e., case studies), and (3) developing the process and products provided by the EEIRP. This report, prepared under the EEIRP Evaluation Framework work unit, is part of that effort.
The overall objective of the EEIRP was to provide an evaluation framework, techniques, and procedures to assist planners, managers, and regulators in addressing both the site and portfolio issues; i.e., whether the recommended action is the most effective and efficient alternative for a particular location, and how to allocate limited resources among competing recommended actions. A goal of the program was the development of a series of environmental evaluation procedures manuals ("how to" manuals) addressing various steps in the planning, evaluating, and prioritizing processes. This paper provides an annotated bibliography of EEIRP reports, manuals, and other products and includes information for ordering copies.
Traditional ways of analyzing investments, like net present value or payback calculations, do not deal adequately with environmental issues. Future liabilities and the long time-scale over which a product or process has an impact on the environment are not generally included, and risk is not incorporated properly. This text takes a holistic view of decision-making. The authors advance a methodology which puts the expected monetary values of different investment and risk scenarios into a mathematical model. Features of the model are a wider set of cost-benefits, a disciplined approach to risk and uncertainty, a consideration of the environmental aspects of every facet of an investment, quantification of less tangible things like corporate image and future liabilities, and a strict treatment of items like pollution monitoring that have been passed off as overheads. Case studies and examples of analysis to help you put it all into practice are included.