Trading Project Costs and Benefits in Multi-Attribute Tradespace Exploration

TL;DRAbstract

Classical Cost-Benefit Analysis (CBA) is a preferred method for the evaluation of large-scale infrastructure investment projects in the private and government sector. This paper proposes the use of a method for tradespace exploration as an iterative to classical CBA to help overcome some of its shortcomings. Multi-Attribute Tradespace Exploration (MATE), a method for system decision making and design, allows the tradeoff of both desirable and undesirable system (and project) attributes. Undesirable attributes impose “costs ” on stakeholders, which can be traded off in a similar manner to desirable attributes, which supply “benefits. ” This method possesses several advantages for the treatment of monetary and non-monetary attribute types compared to classical CBA. Utility for different stakeholders is kept separate, avoiding controversial interpersonal utility aggregation and comparison. Tradeoffs among different types of non-monetary attributes are made explicit. Large numbers of desig

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