Cromane: Cost-benefit analysis of Fishing Harbour development Ireland

Department of Communications, Marine and Natural Resources - Project Dates:
May 2002 - August 2002

Description of Project:
Cost/benefit analysis of proposed investment at Cromane fishing harbour in Ireland, to assist aquaculture development and facilitate mussel-dredging activity.

Services Provided:
The analysis used cost estimates from existing engineering studies already completed, and following the quantification of all fishing and non-fishing economic benefits, calculated the value (NPVs) of different investment options using a discounted cash flow analysis. Non-quantifiable benefits, such as improved safety, were also considered, and a sensitivity analysis completed to test the models’ assumptions.