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Cost Benefit Analysis of Senior Citizen Center

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Running head: COST BENEFIT ANALYSIS: SENIOR CITIZEN CENTER 1
Cost Benefit Analysis of Senior Citizen Center
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COST BENEFIT ANALYSIS: SENIOR CITIZEN CENTER 2
Cost Benefit Analysis of Senior Citizen Center
The Cost Benefit Analysis (CBA) of this project, Senior Citizen Center, will help in
providing a perspective on its economic and social desirability. Economics states that the scares
resources should be efficiently allocated between the competing alternatives (Karoly, 2008, p.7).
This necessitates the use of CBA to access the senior citizen center meets this criterion. The cost
involves all the financial, technical, and social implications that are needed to setup and operate
the senior citizen center. The benefits include all the economic and social benefits that are
achieved, directly or indirectly, from the senior citizen center project. These two aspects of the
project get to be examined before a conclusive decision is made.
Unlike the private sector where CBA gets to be done on a purely commercial basis, the
study of public projects demands a consideration of the social costs and benefits alongside the
financial aspects. In order to enhance accuracy with the CBA, common flaws such as double
counting benefits, inadequate sensitivity analysis and underestimation of costs were avoided
(Turner, 2004, p.39). The CBA indicated that the project warranted kick off. The report looked
closely at the gains that the senior members get from participating in these facilities as well as
the externalities that the entire society gains from these facilities. These got to be compared
against the initial and subsequent costs that would be incurred.
The findings of the CBA identified the benefits to include the health, nutrition, education,
and social services that the elderly in these centers receive. The other benefits included the
creation of employment to the community members who will be working in these senior centers.
The different affiliates who were responsible for taking care of the elderly in the society will be
able to focus on their daily tasks without having to worry about their elderly loved ones. This

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Cost Benefit Analysis of Senior Citizen Center Name: Institution: Date: ? Cost Benefit Analysis of Senior Citizen Center The Cost Benefit Analysis (CBA) of this project, Senior Citizen Center, will help in providing a perspective on its economic and social desirability. Economics states that the scares resources should be efficiently allocated between the competing alternatives (Karoly, 2008, p.7). This necessitates the use of CBA to access the senior citizen center meets this criterion. The cost involves all the financial, technical, and social implications that are needed to setup and operate the senior citizen center. The benefits include all the economic and social benefits that are achieved, directly or indirectly, from the senior citizen center project. These two aspects of the project get to be examined before a conclusive decision is made. Unlike the private sector where CBA gets to be done on a purely commercial basis, the study of public projects demands a consideration of the social costs and benefits alongside the financial aspects. In order to enhance accuracy with the CBA, common flaws such as double counting benefits, inadequate sensitivity analysis and underestimation of costs were avoided (Turner, 2004, p.39). The CBA indicated that the project warranted kick off. The report looked closely at the gains that the senior members get from participating in these facilities as well as the externalities that the entire society gains from these facili ...
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