How Cost Benefit Analysis informs Coastal Hazard Management Decisions by Local Councils
Date: Tuesday 7th November 2017
Venue: Whitesands Conference Centre, Shoal Bay Country Club
Time: 9.00am - 4.30pm, Registration from 8.30am
Cost: $105 pp
This workshop will provide the context for using Cost Benefit Analysis (CBA) to evaluate the economic, social and environmental impacts of coastal hazards and coastal hazard management options. The workshop will provide participants with an understanding of how to carry out a CBA with the assistance of consultants.
Coastal hazards pose a difficult management challenge for local councils in NSW. Management options need to consider economic, social and environmental impacts over long timeframes for example over 20 and 50 years, as well as for the present. An economic impact assessment framework such as Cost-benefit Analysis (CBA) can be valuable in helping decision makers select appropriate management options.
If properly carried out, CBA can underpin decisions on coastal hazard management by identifying the net economic, social and environmental impacts of different management options for responding to coastal hazards. A CBA provides valuable insights into which planning options are efficient, including whether a course of action (including continuing with the status quo) is worth undertaking. The legislated coastal reforms and the NSW Coastal Management Manual step out the approach councils should take in using a CBA for evaluating management options.
This workshop is designed to help equip professionals and decision makers (such as council employees, resource managers, consultants) in using CBA, whether they are new to CBA or already adept in its use. It will involve a morning session on the mechanics of a CBA, featuring brief 'snapshot' presentations, with interactive audience participation. An afternoon session will involve groups working through practical exercises on CBA for coastal hazard management options in NSW.
The workshop will be facilitated by economists and coastal scientists from the Office of Environment and Heritage. It is designed to be highly engaging and participatory (particularly the afternoon session). We look forward to seeing you there!
The workshop agenda will comprise:
Presentation 1: An introduction to CBA and overview of the workshop
Presentation 2: Base case options
Presentation 3: Non- market values
Presentation 4: Sensitivity analysis
Presentation 5: Distributional analysis
Round table case study based on a CBA referenced to NSW coastal hazards