Cost benefit analysis can be a useful tool in demonstrating the effectiveness of a warden scheme. There is no agreed precise definition of cost benefit analysis, but in simple terms both positive and negative impacts are summarised and weighed against each other, using solely financial data.
There are different models of cost benefit analysis to cover different business cases, but it would seem for warden schemes the most relevant is financial justification for the Scheme, i.e. does the service ‘pay for itself?’
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Community Participation Toolkit
An excellent toolkit which equips anyone with the practical skills and knowledge needed to carry out their own community evaluation. As well as...more
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Funders are always seeking value for money and this is a method of demonstrating that aspiration. The greater the monetary value of benefits resulting from a warden scheme outweigh the actual costs of delivery, the greater there is justification for money invested.
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