The Economic Analysis Screening Tool is one of two economic analysis tools developed by Bushfire and Natural Hazards CRC researchers at the University of Western Australia. Itallows you to determine the economic benefits of natural hazard risk management projects and compare the relative benefits of different options.
It is a spreadsheet that provides a way to quickly assess different mitigation options, based on the best return on investment. This tool uses values from sources, including the second economic analysis tool from this team, the Value Tool for Natural Hazards. It can be used to understand the value for money that managers can expect from investing in a single mitigation options, or to compare the relative benefits of a range of mitigation options, including the impacts on tangible (market) and intangible (non-market) values affected by natural hazards.
The Economic Analysis Screening Tool is intended to provide natural hazard managers with an overview of the options that are most worth developing business cases for, so that they can prioritise the type and quantity of information that is needed to improve decisions and the confidence in those decisions.
Before using the tool, read the guidelines for use.