Why do most intellectuals tend to lean towards liberalism?

cost-benefit analysis example for students

Thats a good question.

Its not true in every research field; engineers and economists, for example, have far more right-wing intellectuals than other fields.

But its true in a lot of fields of study (especially in the social sciences and humanities), and its an interesting truth.

,Right-wingers often argue that intellectuals lean left because the university environment where they obtain their credentials contain political biases.

After all, the university experience is largely funded by government funding, grants, and payment-deferred student loans; thats quite different from the private sectors typical pay-as-you-go pattern of market transactions, and far more left-wing about it.

,Left-wingers theory is that left-wing ideology is a more accurate representation of reality, and therefore greater education leads people to believe what the facts actually support rather than the right-wing superstitions of their relatively ignorant past.

At the very least, theyd argue, exposure to new ideas opens the mind from the narrowness of the right to the open-mindedness of the left.

,Personally, I think there is truth to both perspectives.

Exposure to a hundred new ideas from a hundred different cultures does open the mind in many ways, but it closes the mind to critical judgement of other cultures.

This makes one less prone to irrational bias and bigotry, but also makes one more prone to moral relativism to the exclusion of rational cultural criticism.

And the fiscal side of the college experience is certainly very different than the wider economy.

These few new cognitive biases are not nearly so harmful as the vast array of often far more serious biases that are destroyed by a knowledge of the facts, but they are undesirable nonetheless.

,College society, especially after the batchelors degree level, is also highly self-selected.

More right-wingers will leave academia to make money based on a cost/benefit analysis.

More left-wingers treat higher education itself as the measure of success, an end unto itself.

,Or, anyway, thats the level of rational analysis my current set of cognitive biases allows.

Ill keep working at it, and see which of those points endures critical analysis.

cost-benefit analysis example pdf

My strategy( I KNOW YOU ASKED JUST MAINS, BUT I HAVE RESPONDED FOR ALL THREE, so that many messages in my inbox can get it all in one place.

I dont say its a perfect stratergy and it will 10000% work for everyone, but even if it serves one person in achieving his/her dream then my purpose is served).

Few basic pointsI dont read line to line.

,I cant cram much.

( my short term memory is really very short and long term memory is lost for long term, so I try to revise fast and be specific during revisions),I cant sit in stretch for days ( i need breaks, episodes from tv series like two and a half men, friends have saved my mental peace),Disclaimer : I dont advice you to watch TV series, we all have our escapes this was mine,I covered broad areas and avoided doing phd in any one topicI am fan of flowcharts and diagrams and tried my best to use them,I practiced world map, south Asia map, india map, central Asia map etc for rough idea,prep strategyPrepared mains and pre together.

Only pre was focussed from April 1.

Interview was focussed only after mains.

,Prelims-,History -,u2022i read ncerts properly and highlighted potential mcqs from them ( ncert11/12),u2022insight prelims booster(balyan sir book available in market too) - cannot cram whole.

.

So maximum number of tables were crammed.

( made mnemonics for almost everything so if you want I can upload the same) you can all have your own sources.

,Had a chart of all historical events (available in market) ( if you want I will attach the pic),Geography: 11/12 ncerts and some topics from mrunal ( all the videos were scrolled at 2x speed)(for main _ selected topics from gc leong- if you want I will upload the list)PolityLaxmikant by heart ( as many times you can read),I had a chart of Constitution.

( if you want I can attach it),Economics - mrunal sir videos on youTube,Environment:,Selected topics from shankar ias, selected videos from mrunal and factual info from wikepedia.

,Science and tech -Any coaching institute notes for basic science.

,Current affairs -,u2022Pt365 by heart.

Line to line word to word.

,u2022Daily current mcqs by insights on india( they are compiled monthly in to booklets of 80-90 pages per month) and are available in any shop,u2022Pib- cabinet meetings (add extra factual information in your own pt),u2022I had read pt365 of previous year during my first attempt.

( so i tore the index pages from previous year.

.

Wrote one line regarding each page on the index as to why it was in news and then stapled them to present year pt 365),u2022Onlyias prelims booster discussion daily ( 15 min daily you tube videos, watch at 2x speed),I always took screenshots from online lecture videos of any relevant information and created a folder for the same in my mobile.

Every night I scrutinised those screenshots and important ones to be revised on last day were marked as favourites and rest which were added to pt/ mains and the ones not required were deleted.

.

Similar was the story with quotes for essays.

,u2022Budget summary and niti aayog three year agenda from vajiram yellow book ( pdf is available online),u2022Could not do India Year Book.

As per cost benefit analysis time would have been used more.

,u2022Economic survey not relevant for this year as its not there.

,u2022Government ministries summary report of one year.

(GsScore most probably) Read it.

Its around 90 pages.

i dont remember I think gs score gives it, pdf is available online.

Dont cram but if you read you will feel confident.

,u2022Shankar ias (ias parliament) launches reports and indices booklets every year and also of international organisations.

They both are hardly 50pages each and can be done in half a day.

Cram specially which organisation releases which report.

Upsc usually doesnt ask the rank but it definitely asks the organisation releasing report.

Its a long list and cant be prepared in one day.

Cram 20 each day and learn with your friend.

.

Sab ka mnemonic ban jata h a to z.

If you want.

.

I can make a video on my mnemonics ASAP.

,Organisation k members headquarters, India signatory h ya ni.

.

Last meeting and founding year,Mcqs.

,1.

Do previous years very sincerely.

Make a diary and note down all the options of questions and you will find repetition at many places to in type of questions and also questions.

Cover all the noted down topics.

,2.

Mcqs - any two test series questions at home ( dont have time then I think 15 - 15 from each are enough) I did insights and vision.

( available in market.

),Strategy in prelims.

Score was not that great (105.

34) but anyways my strategy was that I knew my error rate while attempting previous years.

So I knew I have to attempt as much as possible.

I did not attempt only those questions where I had no idea of any of the options or risk as very wrong.

,I attempted near about 85 questions.

,In first attempt i attempted hardly 70 questions and ended up missing the line.

So I think you must try to attempt at least in 80s as no matter how tough the exam gets.

Chances of cutoff falling very low in upsc are very low.

Please see the change in previous years specially past 2 years.

3 years back it was totally current affair dominated.

Past two years.

, paper has become a bit complex.

,Mains :,After wasting a month crying about positive negative of result snd getting result as positive I realised I am in a mess.

Alternate days for optional and gs and weekend half day for essay etc.

Was tried.

.

My study buddies were shashi ranjan for prelims, sahil singh for mains and rest of the time ahead and Dr Rachna singh (my senior and bro like bro for rest of life) for optional:) we seriously sticked to studies and when I say seriously I mean no gossips.

And of course.

.

Special thanks to Ishani Lohchab my childhood bestie for last minute gyan floods on topics of optional especially pharmacology.

u263au263au263aFor gs 1-4 I have read mains 365 of vision,Other specifics1.

Gs 1 - history from balyan sir notes,Social issues _ certain pdfs are available on mrunal website.

( I can post the link for the same)I made handwritten notes compiling from best sources on net as well as mrunal and collected fodder ( by checking against topics in syllabus list) .

Geography was largely done from same sources.

.

I practiced many diagrams in a blank a4 sized register with pen itself .

.

For eg, if question is on earthquake these three diagrams are to be made.

.

If its on cyclone then these.

.

( if you want I can upload certain pdfs of my rough notes online),Gs _2 polity notes of m puri and siddiqui sir ( available again anywhere) were done thoroughly.

International relations.

.

Country specific markings were done on world map ( it became messy but I liked it because all the masala and relevant points of India and neighbourhood could be revised from one political map of India itself ) that if question comes regarding India maldives these ten points must be highlighted.

Revised economic survey summary.

.

( its one of the best) It helped in all 4 papers in its own way.

,Gs_3 other than older sources, I saw the syllabus and saw many topics which were not covered thoroughly anywhere.

.

Collected there fodder from mrunal pdfs, govt websites and wikipedia.

.

Please do check syllabus here as for each word mentioned you must have quality content of at least three pages.

,Gs_4 prepared ethics in a week time.

Read it first time there and then.

,Mrunal pdfs for basic knowledge about terms.

Case studies are also good.

Got photostated lukmaan ias notes and read them.

,2nd a.

R.

C.

Every chapter has quotes.

.

And chapter 4 is great as it has some great material on probity in governance.

So quotes in introductory mention were jotted down and also certain diagrams examples were beirfly copied.

.

It was a cursory reading so whatever I could get I copied.

For famous personalities.

.

.

I noted which ones are to be studied and wrote down two pages each about them in rough handwriting from wikipedia and mrunal again nd how I can use them.

Certain theories were applied in many case studies for clear picture.

We can discuss these in any length you guys want.

,Essay _had very high expectations so did my test series mentors but anyways at times upsc is unpredictable and whatever comes we should accept it with a big smile.

I scored 115 in it.

,I love reading stories, books, I love observing things around me and then I use them as an example or story.

.

,Choose essay topics wisely.

.

I chose poverty ( most common) and customary morality( I guess here my essay might have become a bit of controversial.

.

but these are guesses and what matters is score.

.

( wont mention much because of my score(115).

.

For more details you guys can see my written answers in forum ias test series),Optional_Medical science.

I left 60 marks paper blank due to Mismanaged time.

.

,Will discuss it in separate post,Strategy in mains _,It was race against time for me.

I had never completed a single paper in my forumias test series and always completed in 3.

30 hours or so.

,I wrote the fastest.

Completed all the papers though could not underline but I guess upsc rewards for content so could score fairly in gs.

Two coloured pens could obviously not be used because of time issue.

.

Used pilot pen.

.

Used pencils and colors in one or two diagrams like magma plume, ashghabad agreent map etc,I did not leave a single question blank.

Whether I knew it or not, I wrote it.

I knew only factual five Points about chaitanya mahaprabhu ( that too prelims specific) yet I wrote 1 page on it.

Similar was with bose Einstein condensate.

Ethics gets very lengthy and writing became what we all doctors are famous for.

.

They were scribbles and bad hand writing.

I approached case studies first.

,In between exam:,Please dont waste time crying about how your previous paper went.

I missed 60 marker in paper 1 of optional so I was all crying in the time in between and next paper itself.

Irony is in both exams I scored 138.

So we really cannot judge the attempt in mains.

Just because some shit happened in some paper please dont let your next paper be ruined.

Learn from my mistake rather than commiting blunder yourself.

,In evenings between exams, things used to become stressful, but its for everyone.

Please dont spend time discussing the paper at home with friends.

.

Here also I wasted time.

Sleep at max by 1.

30 no matter how much your brain wants to read more.

,Do reach centre at time, the schools dont allow late entry and it unnecessarily shoots adrenaline and increases stress.

,Check your pens, documents to carry etc before hand.

Carry your water bottles if its allowed.

,If sun light is irritating you in any sense dont feel awkward and ask them to cover the window.

It happened with me on day one, couldnt be arranged so I carried chunni the next day.

,Most of all, be so confident about yourself that you can and will attempt any question that comes in your way.

100% syllabus is not possible and you just cant do it.

Many a times people will say there exam was so nice paper was easy how could you attempt so bad and all.

.

Please avoid such people and rather block them for exam days.

Trust the blessings, your struggle and Gods purpose for you.

You will succeed, just accept the fact that every step you are taking will lead you to the horizon of your dreams and it will become reality.

,Interview _,This time I knew that in paper 1 of optional I have messed up so even if I dont get good score.

.

I will aim for 200+ in interview and work on my personality so that I manage to get any service in final list.

.

( was expecting at the last),1.

Mirror practice,2.

Discuss and debate things with people,3.

English speaking is not a greater issue but hesitation in speaking Is.

,4.

Dont take extreme stands or one sided stands on topics like secular fabric of country, reservation or any other controversial issue, try to balance the positive negatives and always give a positive hopeful outlook at the end of your opinion.

Dont be fatalist that nothing can be done on this issue.

Always give hope.

No country is perfect and every step in right direction is great achievement and all we need is to speed up the pace.

We the youth are future of rising India and complaining about problems without giving hope and solutions is a futile exercise.

,Take extreme stand on certain issues like terrorism, drug abuse, women empowerment, dowry, patriarchy, honour killing, female feticide, caste divides, poverty,witch hunting etc, social and health issues.

,You always dont have to be calm middle path person but you should no where to sway and when to sway from the golden mean and thats in handful of circumstances only.

,Prepare your detailed application form like a holy book.

Word by word in full details.

.

Please dont over elaborate, do take guidance while filling it.

I wrote a lot so had to prepare a lot in depth.

,We can discuss interview strategy in a seperate post.

I read three newspapers a day at this stage.

,My discussion buddies here were sahil singh( we discussed each conteoversial topic after indepth studies and reached conclusions and how to present them etc.

) and the one who corrected minute details of how I go wrong in mock or how mypace should have been and even more tiny stuff was abhishek phougat.

Some extra stuff I didWhenever I used to read a boring or too much technical topic anywhere and I knew I would not revise it last day Or the fodder material in it is very important.

.

I would record the content in my own voice in my mobile and save the audio recording with topic name.

.

I would listen to that audio when I would get tired and my mind would behave unreceptive to the reading andunderstanding thing.

,I had green flash cards for geography ncerts and peach for history.

.

On last day of prelims.

.

Used them like deck of cards to shuffle and revise.

.

,I know its all roughly written.

.

But I will keep on editing it and make it presentable and add various minute details I have missed.

.

.

,Forgive me for the grammar and spelling errors.

.

I am running on time deadlines.

.

All the very best future civil servants.

.

I know we all will make India proud one day and we will witness India at the top of world through our talent, largest strength and dedication towards country.

Thank you all talented fellas for going through all this.

Cost-benefit analysis in project Management

Chuck has got it right again.

,Cost-benefit anaysis is usually a project manageru2019s desperate attempt to show how great the idea really is.

The results are often some of the great works of fiction of our time.

Enthusiasm supported by pseudo science has a great effect.

,By the time the truth emerges the project is complete and the project manager has dissapeared over the horizon.

,An additional problem is that by no means are all benefits financial.

Iu2019ve seen projects to make trains more reliable, reduce queuing time for non urgent medical treatments, reduce staff turnover, make work safer and increase viewer figures.

How can you mix non-financial benefits with very financial project costs?

Cost benefit analysis template

First of all you have to be familiar and practiced in the construction arts before you can attempt to write something of that complexity.

If you donu2019t get professional help?

how to calculate cost-benefit analysis

In many cases, it is very difficult to quantify benefits from a project especially in an environment with a high level of uncertainty.

In an uncertain environment, it is much better to use an Agile approach.

That has two primary benefits from a cost/benefit perspective:,It allows using a more incremental and iterative approach to explore the value that the project creates and the likely costs of the project without committing to the entire cost of the project upfront,It also allows a more dynamic approach to project portfolio management to more easily make adjustments to an overall portfolio of projects to maximize the cost/benefits

importance of cost-benefit analysis pdf

Setting multiple alarms because morning FR lectures are important as hell.

If we miss the class, u201cnaalayokonu201d keeps haunting in our dreams.

,Arranging papers in order and filing them neatly to avoid any hassle.

Not to forget about the precision with which they are stapled together.

Yes, we are that particular.

,Itu2019s budget for other fellow Indians.

It is BUDGET for us.

We jot down amendments like hungry dogs because anything can be asked in paper.

,Doing cost benefit analysis even for buying a pair of shoes from Amazon.

,Day-dreaming about college life, and then saying khair chodo (just leave) while filing annual returns.

,Living on coffee/ tea during audit season/ exam days.

,Making timetables.

We are pro at it.

We have varieties.

2 yearly, yearly, quarterly, monthly, 15 days.

We trick our brains to pass every 6 months.

.

:P,Calculating turnover of renowned faculties and thinking of teaching an easy subject.

.

:P,Wondering whether Science- Maths was a better option than Commerce.

And, why the fuck everyone lies about this course?,Educating juniors about all the pros and cons of each level of the course.

We act like their gurus, and it becomes our moral responsibility to show them the right path.

,Revising section numbers, recalling SA numbers, AS numbers while bathing/ walking.

We are desperate to pass.

,Locking ourselves in a room while the world celebrates Diwali.

All sort of lightening happens in your brain when you have exams next day.

We donu2019t need more.

,Changing name to CA XYZ immediately after results on Facebook/Quora/Instagram/whatsapp/Aadhar Card/ PAN CARD/voter Id/email id/ Ration card.

Earning that title is a matter of pride.

,Downloading 1000 PDF files from numerous platforms, and never checking them again.

Kaam aayega, rakh lo.

Searching for cheap photocopy alternatives to get those PDFu2019s printed.

Itu2019s another type of struggle.

,Developing thick skin after facing multiple failures.

Yes, CA makes you tough.

Most important lessons of life are learned in this journey.

,,Take Care.

.

:)

Project cost analysis example

When analyzing high fixed-cost projects like the California High-Speed Rail project, from an economic perspective there are really two major factors to look at closely :,First are the up-front costs.

The lower the better.

,Second is capacity utilization.

The higher the better.

,These two factors alone can explain most of the economics of the business.

After we get a handle on the base economics, we can consider less-easy-to-measure externalities such as pollution reduction, job creation and quality of life measures.

,,The projectu2019s latest (base case) estimate is $67.

5 billion for Phase I (in current-year dollars), which is to effectively connect Los Angeles with San Francisco with the main line running through Californiau2019s Central Valley.

With total track of 520 miles (840 km), this averages out to $130 million per mile ($80 million per km).

,$130 million per mile is a very high number.

We know this because we can compare the cost of this project to others done in the past.

For example, European HSR projects range from $48 to $78 million per mile and Chinese HSR projects range from $22 to $32 million .

These figures have been adjusted to 2018 price levels to make it a more apples-to-apples comparison.

,These up-front capital costs show up in the project economics in the form of financing costs.

Using a cost of capital rate of 4% on the project cost (blended debt and equity) u2014 which is quite low u2014 we are looking at roughly $2.

7 billion in annual financing costs alone.

,Okay, so we know the project cost is really high.

But can they make up for it in high capacity utilization?,,According to its latest business plan , the California High-Speed Rail Authorityu2019s (CHSRA) is forecasting a base case of 23.

6 million riders per year when Los Angeles and San Francisco (a.

k.

a.

u201cValley to Valleyu201d) are linked in 2033.

,Source: California High-speed Rail Authority 2016 Business Plan (page 98)The first issue I see is that even if we take these projections at face value, the estimated fare price would not even be able to cover the projected financing costs.

Using the medium case annual ridership estimate of 23.

6 million, we get to a financing cost of $114 per trip:,Remember, this does not even cover operations and maintenance costs, much less principal repayment.

And 4% is a very low blended cost of capital, even in the context of the past decade of extremely low interest rates.

,The second issue is that I am not even sure we can take these ridership projections at face value.

Ridership projections will be very much dependent on the cost of alternatives and in this case, it will be either driving or flying.

,A typical round-trip airline ticket between SFO and LAX is less than $200.

In other words, you are talking less than $100 for a one-way ticket.

It will be hard to convince a large number of passengers to pay double the price (or more) to ride on a high-speed train.

,For shorter trips (e.

g.

between Bakersfield and Los Angeles), now you are starting to compete with just regular driving.

For the 116-mile trip between the two cities, we are talking about $35u201340 per trip (per passenger):,,I reviewed older business plans to get a better sense of how the ridership estimates were derived.

Unfortunately, the reports did not provide detailed analysis as to how the ridership forecasts were derived.

,And the ridership projections just did not make a lot of sense to me.

For example, drawing from past experience, high-speed rail deployments are typically effective replacements for point-to-point air travel for distances in the range contemplated by the San Francisco to Los Angeles corridor.

Each year there are around 3.

7 million flights between the Bay Area and Los Angeles u2014 an order of magnitude lower than the 23.

6 million ridership forecast.

,Another data point is the Amtrak line linking Boston to Washington, D.

C.

via New York City.

The distance from Boston to Washington, D.

C.

is comparable to San Francisco to Los Angeles (around 450 miles).

With a population of approximately 49 million along the line, this is the densest region in the United States (the entire population of California is around 40 million).

Ridership on the Amtrak lines was about 12 million in 2016 .

This figure includes all rides, including short-haul trips from New York City to Philadelphia u2014 not end-to-end rides from Boston to Washington, D.

C.

,The ridership forecasts just do not seem to be grounded in reality.

,And the big risk is that if they get the ridership forecast wrong, the economics of the entire project can spiral out of control very quickly.

Reducing ridership estimates from the medium case of 23.

6 million to the low case of 17.

8 million increases the amortized financing cost per trip to $174.

Lower ridership means higher cost, which leads to a further reduction in demand u2014 itu2019s a slippery slope.

,,I am a big fan of high-speed rail in general, but the economics need to work and from my vantage point, they donu2019t work u2026 by a long shot.

I totally buy into the positive externalities (e.

g.

environment, job creation, increase in economic activity) but currently the economics are so out of whack (at least in my model at what I consider to be more realistic ridership assumptions) that we cannot even start to consider those.

,As I wrote in another answer , I think the U.

S.

just has certain characteristics (e.

g.

low population density, lots of suburban u201csprawlu201d, high land acquisition costs, Car culture etc.

) that make it difficult for high-speed rail to be implemented.

,But before I reach a more definitive conclusion, I still have open questions:,I would love to get more detailed breakdown of the construction budget u2014 how the money is spent is important.

Is it high because the topography makes it extremely expensive to build? That would not be good.

Or is it high is because of very high land acquisition costs? This is a little better u2014 itu2019s sort of like a tax paid for by residents of California to communities along the right-of-way.

Itu2019s not ideal, but at least the money is staying within the system (sort of).

,I would also love to get more detailed analysis as to how the California HSR Authority came up with its ridership figures so I can better assess how realistic they are.

cost-benefit analysis problems and solutions

As a preface, I would like to state it upfront that MBA is not necessary for product management.

But if you are anyways going to do an MBA, letu2019s look at what would help you do better product management.

,Product manager role is thought to be a combination of business, user experience, and engineering.

As a product manager, you are responsible for understanding target customeru2019s problems and needs, ideating an apt solution/product to solve the problems or needs, work with engineering team to design and build the solution decided.

,So, what would all this involve - Strategy, Finance, Marketing, Organizational Behavior and so on.

,Strategy will help you understand your business, your customers, and your competitors and come up with ways to build a better product.

,Finance will help you evaluate the available solution approaches and choose the better option based on cost-benefit analysis using models like NPV or IRR and so on.

,Marketing will help you study your target customers to understand their personas, target them based on your product and position your product in customeru2019s mind relative to your competitoru2019s product.

,Organizational behavior will help you understand organizational structures, workforce motivation, incentives and team building to drive the cross-functional teams to get the product designed, built and launched successfully.

,Like we have seen above, every specialization contributes to product management but if I have to say, Strategy & Marketing as a specialization will benefit more for product management role.

,Hope this helps.