Cost-Benefit Analysis Concepts for Insensitive Munitions Policy Implementation,

Abstract : Australia's Insensitive Munitions (IM) policy requires ADF Program Managers to introduce Insensitive Munitions into Service where it is "sensible, practicable and cost-effective to do so". An assessment of the cost-benefits of introducing IM is likely to require a financial analysis which differs from those normally undertaken, in that many of the benefits may be probabilistic and/or difficult to quantify. This report discusses factors applicable to IM cost-benefit analyses, and indicates some important areas which should be taken into consideration when conducting such analyses.