Introduction
1. In a robust policy development process, you need to define the problem, set your objectives, consider the full range of feasible options, and then assess these options to determine which is preferred. Thorough and accurate assessment and analysis of the impacts of options is a crucial part of policy development. Without it, the option that is recommended may not be the best option, which could have wide-ranging adverse impacts on affected parties (be it a worsening of conditions or a sub-optimal improvement).
2. Assessing options thoroughly is usually a difficult and complex exercise. Most importantly, you need to ensure enough time and resource are devoted to this step of policy development and assessment is undertaken in a structured way.
Purpose of This Document
3. To improve the quality of policy development by providing guidance on assessing options. This document sets out the principles you should follow and steps you should take to ensure that your assessment of options is thorough and accurate. It discusses the basic steps of cost benefit analysis as they apply to policy analysis. It acknowledges that cost benefit analysis is only part of the decision making process in a policy environment, though cost benefit analysis in some form or other assists to ensure that options are assessed robustly.
4. This document is distinct from the RIA Guidelines, which set out the requirements for RIA, including the RIS requirement.
Audience
5. The guidance in this document applies to all types of policy - social, economic, environmental, and so on. All policy analysts should be familiar with this guidance to ensure that they are able to assess impacts of policy options thoroughly and accurately.
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