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<br />... <br /> <br />One of the directives which the President issued went to the Water <br />Resources Council and directed the Council to modify the Principles and <br />Standards as well as produce a manual for use by the various Federal <br />~gencies for purposes of improving the implementation of the Principles and <br />Standards. As many of you here know, the Principles and Standards for <br />Planning Water and Related Land Resources Projects were originally issued <br />in 1973. As their name implies, the Principles and Standards are a set of <br />general principles and standards concerned with water resources planning, <br />including benefit-cost analysis. The various Federal agencies, such as <br />the Corps of Soil Conservation Service, develop their own agency rules and <br />regulations for implementation of the Principles and Standards. As a result, <br />there is considerable difference between the benefit-cost procedures and <br />other planning procedures used by the Corps of Engineers, the Soil Conserva- <br />tion Service, and other Federal development agencies. As a consequence, the <br />President has directed the Council to prepare a manual to insure more con- <br />sistency among agencies in benefit-cost analysis and other planning procedures <br />as well as insuring that the procedures used by the agencies are the best <br />possible. I think the importance of all of this to you is that by improving <br />planning and planning procedures, you have more of a guarantee that the pro- <br />cedures you are presently devel opi ng for estimati ng mi nimum streamflows wi 11 <br />actually be employed and will not be just left on the shelf someplace. <br />The initial efforts of the Water Resources Council toward meeting the <br />President's directive have been primarily concentrated in improving pro- <br />cedures for benefit-cost analysis. Our present schedule calls for us to <br />have completed the portion of the manual dealing with benefit-cost analysis <br />by next July. However, the Principles and Standards are not only concerned <br />with economic cost and benefits. The P&S also requires an environmental <br /> <br />... <br /> <br />11 <br />