2609.13,70 Contents Page 1 of 2 FSH 2609.13 - WILDLIFE AND FISHERIES PROGRAM MANAGEMENT HANDBOOK WO AMENDMENT 2609.13-92-1 EFFECTIVE 8/3/92 CHAPTER 70 - ANALYSIS OF ECONOMIC EFFICIENCY OF WILDLIFE AND FISHERIES PROJECTS Contents 70.3 Policy 70.5 Definitions 71 STEPS IN ANALYSIS 71.1 Identifying the Decision Elements 71.2 Determining the Level and Type of Analysis Needed 71.21 Economic Analysis of Current Situation 71.22 Elements of Economic Efficiency Analysis 72 SCOPE AND DESIGN OF ECONOMIC EFFICIENCY ANALYSIS 72.03 Policy 72.1 Uses of Economic Efficiency Evaluations 73 MEASURES OF ECONOMIC EFFICIENCY 74 IDENTIFYING INPUTS, OUTPUTS, AND PRODUCTION PROCESSES 74.1 Level of Detail 74.2 Inputs 74.3 Outputs 74.31 Wildlife and Fish Output Measures 74.4 Time Dimension 74.41 When to Record Outputs 74.42 Effective Life of Projects 75 ANALYZING COST 75.1 Classification 75.11 Wildlife and Fish Classification 75.2 Sources of Cost Data 75.3 Adjustments for Constant Dollar Values for a Base Year 76 ASSESSING MARKETS AND DEVELOPING OUTPUT VALUES 76.1 Purposes 76.2 Components of a Market Assessment 76.21 Market Assessments as Substitute to RPA Assessments 76.3 Wildlife and Fish Outputs to be Valued 76.31 Estimating Values of Current and Future Outputs 76.31a Exclusions from Measures of Value 76.31b Exclusions from Measures of Value at the Project Planning Level 76.4 Demand Estimates for Wildlife and Fish 76.41 Estimating Animal Numbers 76.42 Estimating Future Recreation Use 76.5 Price Estimates and Measures for Wildlife and Fish Recreational 77 COMPUTING MEASURES OF ECONOMIC EFFICIENCY 77.1 Discount Rate 77.2 Economic Efficiency Calculations 77.21 Determining the Amount of Outputs 77.22 Evaluating Outputs 77.23 Evaluating Outputs on an Annual Basis 77.24 Calculating Cost 77.25 Calculating Present Net Value 77.26 Calculating Benefit/Cost Ratios 77.27 Analysis and Display of Results 77.28 Important Non-Economic Effects 78 SUPPLEMENTAL ANALYTICAL PROCEDURES 78.1 Breakeven Analysis 78.2 Least Cost Analysis (Cost Effectiveness) 78.3 Sensitivity Analysis 78.4 Threatened and Endangered Species Analysis