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ACTION: OriginalDATE: 11/24/2004 3:27 PMRule Summary and Fiscal Analysis (Part A) Department Of Commerce Agency NameDivision Of State Fire MarshalKevin SchmidtDivisionContact77 S. High 23rd Floor

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What is cost-benefit analysis and agency?

Cost-benefit analysis (CBA) is a systematic approach to estimating the strengths and weaknesses of alternatives in terms of their costs and benefits. An agency, in this context, refers to a governmental or organizational body that assesses these costs and benefits for policy formation or program implementation.

Who is required to file cost-benefit analysis and agency?

Typically, governmental agencies tasked with regulatory or policy implementation are required to conduct and file cost-benefit analyses to ensure that the benefits of a proposed action justify its costs.

How to fill out cost-benefit analysis and agency?

To fill out a cost-benefit analysis, one must identify the project or policy option, determine the costs and benefits associated with it, quantify them in monetary terms where possible, assess the time frame for impacts, and compare the total costs to the total benefits to determine feasibility.

What is the purpose of cost-benefit analysis and agency?

The purpose of cost-benefit analysis is to provide a systematic evaluation of the economic advantages and disadvantages of a project or policy, allowing agencies to make informed decisions that maximize benefits while minimizing costs.

What information must be reported on cost-benefit analysis and agency?

The information reported typically includes the description of the project, detailed list of costs and benefits, the methodology used for calculations, assumptions made, a sensitivity analysis, and conclusions regarding the net benefits.

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