Cost-Benefit Analysis (CBA), Economic Evaluation & Financial Modelling for M&E Course

Introduction

Cost-Benefit Analysis (CBA), Economic Evaluation, and Financial Modelling are critical tools for assessing the efficiency, value, and sustainability of development and investment projects. This course equips participants with advanced analytical skills to evaluate programs, policies, and interventions using rigorous economic and financial evaluation techniques within Monitoring and Evaluation (M&E) systems.

With limited resources and increasing demand for accountability, organizations must ensure that every investment delivers measurable economic and social returns. This course provides participants with practical frameworks to compare costs against benefits, assess value for money, and prioritize interventions that generate the highest impact.

Participants will learn how to apply economic evaluation methods including cost-effectiveness analysis, cost-utility analysis, and return on investment (ROI) assessments. The course emphasizes translating complex financial data into clear, decision-oriented insights for policymakers, donors, and program managers.

A strong focus is placed on financial modelling techniques used to forecast project performance, simulate different scenarios, and assess long-term sustainability. Participants will develop skills in building financial models that support budgeting, forecasting, and strategic planning in development and business environments.

The course also integrates M&E principles with economic evaluation, ensuring that participants can link performance indicators with financial outcomes. This enables organizations to measure not only what works, but also what is economically viable and sustainable over time.

By the end of this course, participants will be able to design and implement robust economic evaluation frameworks, conduct cost-benefit analyses, and build financial models that inform evidence-based decision-making for projects, programs, and policies.

Who Should Attend

• Monitoring and Evaluation Specialists
• Economists and Financial Analysts
• Project Managers and Program Officers
• Development Practitioners and Consultants
• Government Planning and Budget Officers
• Donor and Funding Agency Staff
• Policy Analysts and Researchers
• NGO and CSO Program Managers
• Investment and Risk Analysts
• Public Finance Officers
• Business Development Managers
• Graduate Students in Economics and Finance

Duration

10 Days

Course Objectives

• Equip participants with advanced skills in conducting Cost-Benefit Analysis (CBA) to assess the economic efficiency and social value of projects, programs, and policies.
• Strengthen ability to apply various economic evaluation methods including cost-effectiveness, cost-utility, and return on investment (ROI) analysis in M&E systems.
• Enable learners to design and interpret financial models that support project forecasting, budgeting, and strategic decision-making processes effectively.
• Build capacity to integrate economic evaluation findings into Monitoring and Evaluation frameworks for evidence-based policy and program improvement.
• Enhance skills in identifying, quantifying, and monetizing costs and benefits associated with development interventions across sectors.
• Provide expertise in scenario analysis and sensitivity testing to assess financial risks and uncertainties in project planning and implementation.
• Strengthen ability to analyze long-term sustainability and financial viability of programs using advanced modelling techniques.
• Equip participants with tools to evaluate opportunity costs and trade-offs in resource allocation decisions for development projects.
• Enhance understanding of data requirements and indicators necessary for conducting robust economic and financial evaluations.
• Build competence in using spreadsheets and financial software tools for building and managing complex financial models.
• Enable participants to communicate economic evaluation results effectively to stakeholders, policymakers, and funding agencies.
• Strengthen ability to apply economic evaluation in diverse sectors including health, agriculture, infrastructure, education, and social development.

Comprehensive Course Outline

Module 1: Introduction to Economic Evaluation in M&E

• Concepts of economic evaluation
• Role of CBA in decision-making
• Link between M&E and economics
• Overview of evaluation frameworks

Module 2: Fundamentals of Cost-Benefit Analysis

• Principles of CBA
• Identifying costs and benefits
• Time value of money
• Discounting techniques

Module 3: Cost-Effectiveness Analysis

• Cost per outcome measurement
• Comparative efficiency analysis
• Health and social sector applications
• Interpretation of results

Module 4: Cost-Utility Analysis

• Utility measurement concepts
• Quality-adjusted life years (QALYs)
• Disability-adjusted life years (DALYs)
• Health economics applications

Module 5: Return on Investment (ROI) Analysis

• ROI calculation methods
• Investment performance metrics
• Profitability analysis
• Interpretation for decision-making

Module 6: Financial Modelling Fundamentals

• Structure of financial models
• Input-output frameworks
• Assumptions and variables
• Model validation techniques

Module 7: Advanced Financial Modelling Techniques

• Dynamic financial modelling
• Scenario-based modelling
• Sensitivity analysis
• Forecasting techniques

Module 8: Data Requirements for Economic Evaluation

• Data sources and collection
• Data validation methods
• Financial data integration
• Data quality assurance

Module 9: Time Value of Money & Discounting

• Present value concepts
• Future value calculations
• Discount rate selection
• Net present value (NPV)

Module 10: Risk and Uncertainty Analysis

• Risk identification methods
• Probabilistic modelling
• Monte Carlo simulations
• Decision risk frameworks

Module 11: Sector-Specific Economic Evaluation

• Health sector evaluations
• Agriculture and food systems
• Infrastructure project evaluation
• Education sector analysis

Module 12: Budgeting and Cost Tracking in Projects

• Project budgeting systems
• Cost monitoring techniques
• Variance analysis
• Financial accountability

Module 13: Software Tools for Financial Modelling

• Excel-based modelling tools
• Financial modelling software
• Data visualization tools
• Automation techniques

Module 14: Economic Impact Assessment

• Macroeconomic impact analysis
• Social return on investment
• Multiplier effect analysis
• Policy impact evaluation

Module 15: Reporting Economic Evaluation Results

• Structuring evaluation reports
• Data visualization techniques
• Policy briefs development
• Stakeholder communication

Module 16: Emerging Trends in Economic Evaluation

• AI in financial modelling
• Big data in economic analysis
• Real-time economic evaluation
• Blockchain in financial transparency

Training Approach

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

Certification

Upon successful completion of the training, participants will be awarded a certificate of completion by Steady Development Center.

Training Venue

The training will be held online. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, tutorials and all required training manuals. Any other personal expenses are catered by the participant.
For registration and further enquiries, contact us on:

• Tel: +254 701 180 097
• Email: training@steadytrainingcenter.com

Tailor-Made Option

This course can be customized to suit the specific needs of your organization and be delivered on-line to any convenient location.

Terms Of Payment

Upon agreement by both parties’ payment should be made to Steady Development Center’s official account at least 3 working days before training begins to facilitate adequate preparation.

Our Upcoming Training Schedule