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<br />James 113J has presented a procedure for considering the level of <br /> <br /> <br />protection as a variable in the economic analysis by minimizing total <br /> <br /> <br />cost, roughly equivalent to maximizing net benefits. <br /> <br /> <br />In the analysis of UDFC problems, BCA pen ~e is currently most <br /> <br /> <br />useful as a partial evaluation tool for alternative major drainage pro- <br /> <br /> <br />jects because the direct benefits are quantifiable. In using BCA for <br /> <br /> <br />this application, it is important that the display procedure for project <br /> <br /> <br />benefits be formulated consistently. In other words, the display of <br /> <br /> <br />benefit-cost information is difficult to understand and information <br /> <br /> <br />should be presented in a clear fashion. Different types of benefits <br /> <br /> <br />should not be quantified and mixed together when they are based on sub- <br /> <br /> <br />jective criteria or if the quantification procedure is questionable. <br /> <br />. <br /> <br />Evaluation of Major UDFC Projects <br /> <br /> <br />The most visible UDFC problems are those associated with the major <br /> <br /> <br />drainage system. These problems sometimes include risk to life, property <br /> <br /> <br />damage and other severe consequences. For this reason it is easier to <br /> <br /> <br />identify the benefits for major UDFC projects than for minor projects. <br /> <br /> <br />An excellent economic technique for evaluating such projects was <br /> <br /> <br />recently presented by James [13]. A more detailed description is pre- <br /> <br /> <br />sented in a text by James and Lee [14] and a comprehensive benefit-cost <br /> <br /> <br />methodology entitled, "Benefit-Cost Analysis for Urban Drainage Planning, <br /> <br /> <br />Interim Methodology," has recently been prepared [19], the essence of <br /> <br /> <br />which is presented later in this report. These approaches identify the <br /> <br /> <br />reduction in average annual flood damage as the major benefit resulting <br /> <br /> <br />from UDFC project implementation. This benefit is one of a number of <br /> <br /> <br />expected tangible benefits from a major UDFC project and can be readily <br /> <br />34 <br />