Economic Valuation of Risk Management Measures Training Module

In this training module, the ideal Cost Benefit Analysis approach is discussed. However, due to limited data and knowledge, this ideal approach was adapted to the approach used in this toolkit.

This modified approach includes the following:

• Risk Management scenarios are costed using the best data available;
• Economic viability of the scenario is tested through the setting of an economic benefit test;
• Human health benefits are estimated using The Disability Adjusted Life Years (DALY) approach;
• The number of DALYs at the hot spot sites were estimated based on the national DALY rates (per 100,000 people) calculated by the WHO and the number of potential receptors at the site; and
• The value of a DALY  was estimated by using benefit transfer to convert the value of a DALY in the U.K. to the local situation;