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Cost Benefit Analyses Essay

Cost Benefit Analyses

                        The cost benefit analysis is the process that involves weighing the expected costs against the total expected costs of one or more actions so as to choose an alternative that is profitable to an investor.  The techniques that are used for measuring the cost benefit analysis are cost effectiveness analysis and the benefit effectiveness analysis.  It is mostly applied in very large private and public sector projects to assess the value of money that is utilized by this project.  The projects include costs and benefits that are less expressed in financial or monetary terms for example environmental damage as well as those projects that are expressed in monetary terms

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.  The private sector organization also uses other project appraisal techniques such as the rate of return to determine the viability of a project that has been initiated by various organizations in the country (Vose, D. 1996).

            The application of the cost benefit analysis between countries and sectors such as the transportation, health sectors in various countries of the world depends on the types of impacts that are involved in the costs and benefits within the appraisals and the extent to which the impacts are expressed in monetary terms

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and the differences in the discount rates between the countries.  The accuracy of outcomes of the cost benefit analysis depends on how costs and benefits have been accurately estimated by the preparers of the financial statements and budgets of an organization.  The inaccuracies of cost benefit analysis may lead to insufficient decisions that can lead to poor performance of a company thus they should be treated with caution as they can lead the management of organizations to making wrong decisions for the organizations (Pradhan, S. 1996).

            The cost-benefit analysis on the education of the disabled children is that some of the parents with these children have opted to have their children’s fees paid so that they can acquire skills and knowledge necessary to carry out their activities effectively, but the very poor parents have stated that they cannot fees to meet the cost of maintaining the children expenses but the government has set up initiatives whose objective is to meet the needs of this children so long as the parents agree to take them to school as most of the parents with disabled children are provoked by their friends ( Gramlich, E.M. 1990).

The disability of persons refers to the different functions limitations that occur in any population in any country of the world.  It may occur due to physical, intellectual or sensory impairment, medical conditions or mental illness the impairment or the condition may be permanent or transitory in nature. The disabled children are children who are born just like normal children but they have been physical or mentally impaired due to the factors that were beyond their control, thus they should be treated fairly since in one way or another they can contribute to the success of the economy. The mentally handicapped children can attend classes that offer courses such as art or music and once they are taught on how to carry out these activities they acquire skills and knowledge that enables them to earn a living that can improve on their living standards.  The special programs offered in public schools offers the disabled children with opportunity so that they can gain skills and knowledge that would enhance their productivity hence generate incomes for their own benefits.  The management of schools should have adequate supply of qualified personnel who are well trained so that they can be able to teach the required knowledge and skills for the disabled children so that their can be independent citizens who can earn an income by themselves so that they can not face starvation due to lack of finances to cater for the personal issues (Layard, R. & Glaister, S. (eds.) 1994).

            The federal government categories the special needs such as autism, deaf-blindness, deafness, hearing impairment, mental retardation, multiple disabilities, orthopedic impairment other health impairment and emotional disturbance.  The key to overcoming the special needs for the children with disability is by attending sessions during the day to supplement the regular or the special classroom instruction.  The goal of these programs is enable the students to learn compensatory strategies and study skills so that they can succeed in their studies.  The students with similar needs are placed together with the normal children so that they don’t feel inferior since they become provoked by any negative statement that is stated by any person who keeps on criticizing them.

The management of schools should plan for the identified needs for in-service and pre-service preparation that ensure that all staff or persons working with the disabled children have the necessary knowledge to meet the needs of those children. According to the Individual Disabilities Education Act of 1990 (IDEA) the formerly the Education For All The Handicapped Children Act 1975 it stipulated that all children that had disability had to be provided with free appropriate public education in the Least Restrictive Environment (LRE) so that they could acquire education just like the normal children so that they could attain skills and knowledge that enhance their living standard and thus become productive citizens in the country. The Act also stipulated that it would ensure that no taxes would be imposed on the disabled as they would they did not have the capacity to acquire enough wealth by themselves (Viscusi, W.K. 1997).

            The Individuals Disabilities Education Act regulations stated that the children with disability could be placed or in separate facilities if the nature of severity of the disability was such that the education in regulation public school was using supplementary aids and services could not be achieved satisfactorily then the disabled children could not attend classes with the normal children since they required special care and attention.

            The cost benefit analysis policy states that for the efficiency to take place in an organization the total benefits results must outweigh the total costs this is because the people who benefit should compensate the person who lose or are less privileged to acquire wealth since at one time or another they can still enjoy a net gain in the future.

            The public school systems are supported by a combination of local, state and federal government funding thus the cost of running this institutions is very minimal since when the government intervenes and assists an organization then the cost of running those institutions decreases because the government obtains funds from taxing its citizens.  The students with the special needs have the opportunity in the mainstream school to access for example excess cafeteria, assemblies, hallways and regular classes since the government cater for their needs.  The Individuals with Disabilities Education Act (IDEA) objective is to ensure that the schools provide the disadvantageous students with services so that they can acquire skills and knowledge as other students who attend normal classes. The free and appropriate education for the disabled children consists of educational instructions that are designed to meet the unique needs of the disabled children that enable them to acquire the necessary activities effectively.  The Individual with Disabilities Education Act (IDEA) developed programs whose objective was to provide service that would enable the children to benefit from the program.  The program was established so as to ensure that he children with disability and their parents were granted procedural safeguards with respect to the provision of the free appropriate public education.

            The disabled people are faced by situations such as starvation and therefore in most cases they lack the basic necessities so as to run their affairs effectively.  The parents of most children do not take them to school due to lack of fees thus the government in which the children live have initiated programs whose objective is to cost share the cost incurred to maintain the livelihood of the disabled children.  As a result most special education and training programs are now charging fees to meet their operational cost (Mishan, E.J. 2002).

            The state and governments of various countries should ensure that the right of all is citizens are protected this because they can contribute to the growth of an economy and they can generate employment opportunities since most people face starvation due to the lack of employment opportunities .The disabled person’s should be given equal opportunities just like the normal person since the have hidden talents that can be utilized that can contribute to the improvement of the countries economy. The cost that that is incurred on the disabled should be counted as burdensome since they are very weak to carry out any activity that can generate revenue if anything the governments should implement policies whose objective is to ensure that all disabled persons are catered for just like the normal children by providing them with free medical care, meet their educational expenses and also provide home care services with the objective of ensuring they do not face starvation.

Reference:

Poland tackling Child Poverty And promoting The Social Inclusion of Children

A Study of National Policies

Irena Woodcock

The Gdansk Institute for Market Economics

http://64.233.169.104/search?q=cache:V4tucirkYZkJ:ec.europa.eu/employment_social/spsi/docs/social_inclusion/experts_reports/poland_1_2007_en.pdf+economic+justification+of+cost+benefit+analysis+of+disabled+children+in+public+school+system&hl=en&ct=clnk&cd=40&gl=ke&client=firefox-a

Boardman, A., Greenberg, D., Vining, A. & Weimer, D. (1996). Cost-Benefit Analysis:

 Concepts and Practice. Prentice Hall: New Jersey.

Gramlich, E.M. (1990). A Guide to Benefit-Cost Analysis, Prospect Heights, Illinois: Waveland Press Inc.

Layard, R. & Glaister, S. (eds.) (1994). Cost-Benefit Analysis, 2nd Edition, Cambridge

: Cambridge University Press.

Ministry of Economic Development. (1999). A Guide to Preparing Regulatory Impact

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Mishan, E.J. (2002), ‘On the Conceptual Underpinning of a Cost-Benefit Analysis’,

 The Singaporean Economic Review, Vol. 47, No.1 (pp.1-16.

Pradhan, S. (1996). Evaluating Public Spending: A Framework for Public Expenditure

 Reviews. World Bank Discussion Paper Number 323. The World Bank:

Washington D.C.

Treasury. (1999). Office Minute 1999/B41, Internal Treasury Document.

UK Department for Transport. Economic Valuation with Stated Preference Techniques – Summary Guide.

 http://www.communities.gov.uk/publications/corporate/economicvaluationwith

UK Treasury. (2003). The Green Book, http://greenbook.treasury.gov.uk/. Crown

 Copyright Material Is Reproduced with the Permission of the Controller of

 HMSO and the Queen’s Printer for Scotland.

US Office of Management and Budget. (1992). Circular A-94: Guidelines and Discount

Rates for Benefit-Cost Analysis of Federal Programs.

http://www.whitehouse.gov/omb/circulars/a094/a094.html

Viscusi, W.K. (1997). Improving the Analytical Basis for Regulatory Decision-Making

. In OECD (1997), Pp. 175-208.

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