ABSTRACT
The application of assessment methods is important in order to estimate and assess the improvements and changes that are made towards implemented schemes and processes. In 1969, under the US National Environmental Policy Act, the concept of environmental impact analysis was introduced. Impact analysis aims at assisting decision-makers as well as the stakeholders by providing information about the impacts of a project or activity prior to its realization. The cost-benefit analysis (CBA) method considers the costs and benefits of the activity or task under examination. CBA is a decision-making tool which, when used at the initial steps of a project or activity, can provide with insights regarding its feasibility. The contingent valuation method, which is also described as the “stated preference” method, is used to evaluate the economic value environmental related projects and activities. Hedonic pricing method uses regression analysis to infer environmental values from spending on goods that include those values.
