Building an evidence base of costs
Our work in this area also includes the compilation of a cost database. This unit cost database brings together more than 600 cost estimates in a single place, most of which are national costs derived from government reports and academic studies. The costs cover crime, education & skills, employment & economy, fire, health, housing and social services. The derivation of the costs and the calculations underpinning them have been quality assured by New Economy in co-operation with HM Government. These costs can be used to inform proposals for the implementation of new interventions, the redesign of public services or their evaluation. Having access to such information helps project managers to forecast the costs and benefits associated with their programme or project, prior to the undertaking of more detailed Cost Benefit Analysis (CBA).
The data will be reviewed and updated on a regular basis by New Economy as new research and analysis is published. The current version was produced in March 2015 to incorporate updates to a number of documents from which the estimates are sourced. A further update is planned in the summer of 2015 which will incorporate a range of new unit costs.
For further information on the cost database or our CBA activities please email one of the team: Francis Markus, Julian Cox, David Morris, or Amanda Stevens at email@example.com