Guide to Cost-Benefit Analysis of Investment Projects (European Commission, 2008)

Introduction

The objective of the Guide reflects a specific requirement for the EC to offer guidance on project appraisals, as embodied in the regulations of the Structural Funds (SF), the Cohesion Fund (CF), and Instrument for Pre-Accession Assistance (IPA)1. This Guide, however, should be seen primarily as a contribution to a shared European-wide evaluation culture in the field of project appraisal.

The Guide has been written with a view to meeting the needs of a wide range of users, including deskofficers in the European Commission, civil servants in the Member States and in Candidate Countries,staff of financial institutions and consultants involved in the preparation or evaluation of investment projects. The text is relatively self-contained and - as its previous version - does not require a specific background in financial and economic analysis of capital expenditures. Its main objective is to ensure a broad conceptual framework, a common appraisal language among practitioners in the many countries involved in EU Cohesion Policy.

The Guide was written and developed by Directorate General Regional Policy, European Commission, European Union