Flood and Coastal Defence Project Appraisal Guidance: Economic Appraisal

Abstract

This guide, one of a series on the appraisal of flood and coastal defence in England and Wales, covers only the economic aspects of project appraisal. It assumes that the reader has prior knowledge of general benefit–cost analysis techniques. In the process of revision of the 1993 Project Appraisal Guidance Note (PAGN), the opportunity has been taken to clarify a number of areas which have been found to cause problems in the past, and to include reference to subsequent developments.This guide, FCDPAG3 then identifies methods for valuing costs and impacts in monetary terms and also sets out a recommended decision process, based on economic values.