The paper "Cost-Benefit Analysis of the New Bridge " is a perfect example of a micro and macroeconomic case study. The construction of a bridge should be done after carrying out a cost-benefit analysis of the subject of a project. In this particular scrutiny; the total costs to be incurred on a given potential project are compared against the potential realizable revenues and benefits in general. The difference between the costs and benefits is accordingly utilized in the making of the choice on whether to carry on with the project or not.
It is always advisable that all the costs be included and be duly deducted from all the potential benefits. The consideration and possibility of getting an extra person for the new project embracing are also adequately put to thought. This section will discuss the cost-benefit of constructing the bridge that was estimated to cost AUS $38,324,000 and create over 200 jobs. Analyst had estimated the impact of such a bridge on economic growth, job creation, increasing income tax revenues, growth of businesses, and other benefits. However, this will be done by relating to a comparison of the growth rates in other regions without a bridge.
The presence of it will have a significant impact on the growth in per capita income in the neighborhood. Costs- benefit analysis The new Bridge will cost AUD $35million to construction thereby creating 200 jobs and enable the construction of 2000 homes, growth of 200 businesses, and other infrastructures. The bridge will have direct employment of 200 workers during the construction and after completion; it will have a capacity of 5 vehicles per minute. The drainage of the area will improve thereby alleviating hazards.
This will lead to reduced maintenance costs for existing surrounding infrastructure by diverting runoff to nearby catchments. There will be a reduced cost of managing disaster and financial losses due to floods. This process can determine the financial viability of a project as well as lay a foundation on which future projections can be made. This exercise helps the stakeholders beforehand to assess the financial benefits that accrue from the implementation of the project.
M,Troitsky, M., 1994. Planning and Design of Bridges. New York: John Wiley & Sons.
Richard, L., 2007. Bridges Design and Construction. New York: Norton.