The Role of Benefit-Cost Analysis in Water Resources Planning for the U.S. Army Corps of Engineers (Part 1)

Abstract

Managing water resources for flood damage protection, irrigation, reliable navigation on riverways, and other services is an important function of federal water resource agencies. To determine whether programs are implemented, federal agencies are required to systematically analyze the associated costs and benefits when evaluating the merits of a proposed project. Currently, Principles and Guidelines (P&G), established in 1983, guide federal agencies when conducting cost benefit analysis of water related projects. Our combined talks identify existing criticisms and opportunities for improving the P&Gs relating to a U.S. Army Corps project that assesses the value of levee construction for flood control on the upper Mississippi River.