• Entry
  • Reader's guide
  • Entries A-Z
  • Subject index

Cost refers to the value of all resources required to obtain a specific evaluation outcome, whether the resources are purchased, donated, or borrowed. The usual procedure for estimating costs is to specify, in detail, the resources that are required and to estimate their market values. In some cases, the lack of a market for a resource means that other methods of costing are applied. Total costs can also be subdivided among the various stakeholders to identify their particular cost burdens. Identification of costs is necessary to determine the feasibility and cost effectiveness of alternatives.

Henry M. Levin
Further Reading
Levin, H. M., & McEwan, P. J.(2001)Cost-effectiveness analysis: Methods and applications (2nd ed.). Thousand Oaks, CA: Sage.
    • Loading...
    locked icon

    Sign in to access this content

    Get a 30 day FREE TRIAL

    • Watch videos from a variety of sources bringing classroom topics to life
    • Read modern, diverse business cases
    • Explore hundreds of books and reference titles