1) An evaluation method that provides a logical and consistent framework for assessing a particular option or options. A CBA gives an indication of the total economic welfare effects of a project by comparing all costs and benefits.
2) A formal discipline used to help appraise, or assess, the case for a project or proposal. This is achieved by weighing the total expected costs against the total expected benefits of one or more actions in order to choose the best or most profitable option.
1) ICAO, DOC 9829 Guidance on the Balanced Approach to Aircraft Noise Management 2008, 2nd ed., p. (v)
2) EUROCONTROL (2008) Airport CDM Implementation Manual