Term sheet


  • Dictionary : PIARC Road Dictionary/ English
  • Theme : Financial and Legal Tools / Finance and Procurement / Economics and Finance
  • Definition : Gain, or positive utility, arising from an action.
    1. It implies comparison between two situations and applies to a specific individual or decision-maker.
    2. To quantify a benefit is to represent it in numerical terms. For example time saved could be quantified by the number of hours (without any distinction concerning the beneficiaries, the trip purpose, the duration of each individual gain, etc.).
    3. To value a benefit is to attach a monetary value to it.

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