Regarding your story about benefit:cost ratios being exaggerated (“Emphasis on BCR ‘encourages promoters to abuse appraisal’” LTT 09 Nov), the problem with competitive funding regimes is that, as with all competitions, people will look at the rules and push against the boundaries. It’s all too easy to emphasise the positive aspects of a project and quietly overlook the negatives in order to try and gain a small advantage that wins the funding at the expense of...
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