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<br />STEPS IN BENEFIT-COST ANALYSIS <br /> <br />1. Examine flood hazard area and classify by land use. <br /> <br /> <br />2. Determine flood damage categories by land use. <br /> <br /> <br />3. Eliminate unlikely damage categories. <br /> <br /> <br />4. Divide study area into reaches. <br /> <br /> <br />5. Develop cost data. <br /> <br /> <br />6. Identify benefits and collect supporting data. <br /> <br /> <br />7. Obtain and develop appropriate depth versus damage tables or curves. <br /> <br /> <br />8. Analyze the do-nothing flood damages. <br /> <br /> <br />9. Compute the average annual flood damage potential. <br /> <br /> <br />10. Compute the flood damages and the average annual flood damage <br /> <br /> <br />potential for alternatives. <br /> <br /> <br />11. Compute the benefits for each flood control alternative. <br /> <br /> <br />12. Compute the costs for each flood control alternative. <br /> <br /> <br />13. Select the time horizon. <br /> <br /> <br />14. Select an appropriate discount rate. <br /> <br /> <br />15. Convert all benefits and costs to a common time frame. <br /> <br /> <br />16. Compare the benefits with the costs and prepare them in display <br /> <br /> <br />form for decisionmakers. <br /> <br />56 <br />