Cost-benefit Analysis
Cost-benefit analysis is a systematic process of comparing the costs of a project or program with its potential benefits. In the context of space and astronautical engineering, cost-benefit analysis is used to evaluate the feasibility and profitability of space missions, projects, and programs. It involves identifying and quantifying the costs and benefits of a space project, including direct costs such as materials, labor, and equipment, as well as indirect costs such as environmental impact and opportunity costs. The benefits of a space project may include scientific discoveries, technological advancements, economic benefits, and national prestige. The analysis helps decision-makers to determine whether a space project is worth pursuing, and if so, how to optimize its design and implementation to maximize its benefits while minimizing its costs.
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