Cost/Benefit Analysis

Abstract

The techniques of cost/benefit analysis are presented in a general way in order to encourage decision-makers in the crim inal justice system to adopt a style of thought that will assist them in formulating decisional alternatives. Discussion of the promises and pitfalls of the technique addresses the question of whether the "benefits" of cost/benefit analysis are sufficient to outweigh the "costs" in its adoption. The authors contend that the technique can be quite useful to executives in their quest to manage their organizations toward the achievement of organizational goals because the technique will enable them to identify new programs worthy of experimentation, will encour age the development of an accurate information system, will en hance their ability to base programatic decisions on community and social indicatcrs, and will better equip them in their rela tionships with legislators, funding bodies, and interest groups.