Role of Cost-Benefit Analysis in Public Projects Across Borno State LGAs
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Background of the Study
Cost-Benefit Analysis (CBA) is a tool used to evaluate the financial viability and efficiency of projects by comparing the costs involved against the expected benefits. In public projects, where resource allocation decisions can significantly affect communities, CBA helps ensure that projects deliver maximum social, economic, and environmental benefits. This study will investigate the role of CBA in public project decision-making across Local Government Areas (LGAs) in Borno State.
Statement of the Problem
Despite the potential benefits of Cost-Benefit Analysis, its application in public project planning in Borno State LGAs has been limited. Public projects in the state often face challenges such as inefficiency, misallocation of resources, and lack of proper evaluation frameworks. This study seeks to evaluate how effectively CBA is utilized in decision-making for public projects in Borno State LGAs.
Aim and Objectives of the Study
Aim: To evaluate the role of Cost-Benefit Analysis (CBA) in public project decision-making across LGAs in Borno State.
Objectives:
- To assess the extent to which CBA is applied in public project planning in Borno State LGAs.
- To examine the impact of CBA on the efficiency and effectiveness of public projects.
- To identify the challenges of implementing CBA in public sector projects.
Research Questions
- How widely is Cost-Benefit Analysis applied in public projects in Borno State LGAs?
- What impact does CBA have on the decision-making and execution of public projects?
- What challenges do local governments face in applying CBA for public projects?
Research Hypothesis
- H₀: Cost-Benefit Analysis does not significantly improve the decision-making process for public projects in Borno State LGAs.
- H₀: There is no significant relationship between the use of CBA and the efficiency of public projects in Borno State.
Significance of the Study
The study will highlight the importance of CBA in ensuring that public projects in Borno State are financially viable and deliver value for money. It will also provide insights into barriers to the widespread adoption of CBA and suggest solutions for overcoming these challenges.
Scope and Limitation of the Study
The study will focus on public projects within Borno State’s LGAs. Limitations may include the availability of project data and varying levels of CBA implementation across different LGAs.
Definition of Terms
- Cost-Benefit Analysis (CBA): A systematic process used to evaluate the total expected costs of a project versus the total expected benefits, often expressed in monetary terms.
- Public Projects: Government-funded initiatives aimed at serving public needs, such as infrastructure, healthcare, and education projects.
- Decision-Making: The process of making informed choices regarding project initiation, planning, and execution based on cost and benefit considerations.
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