Cost/Benefit Analysis of Annual Grass Management
EBIPM is a decision-making process that provides you a systems approach to designing invasive plant management and restoration strategies that are aimed at repairing the underlying cause of invasion and resulting loss in forage production. From a livestock producer’s point of view, the final choice of strategy is based on the likely economic benefit as a result of implementing a strategy. This tool was developed to provide an indication of the cost/benefit of your strategy and should allow you to compare the cost/benefit of various alternative EBIPM strategies.
This cost/benefit analysis uses a model made by Duane Griffith, extension farm management specialist at Montana State University, to consider the possible economic benefits you could attain by using the EBIPM land restoration program you are considering. In order for the model to work and, more importantly, for it to be relevant to your unique situation (land, agribusiness, and invasive plant infestation), a myriad of data will be needed from you. It is important to note that the better the data the model is given, the better it will be able to predict cost/benefit outcomes.
There are about 40 questions and we anticipate it will require about an hour to work your way through them. Difficult questions have some guidance. At the end, you will receive a 20-year cost/benefit analysis that tells you if you can recover your costs and make money. If you can make money, the model also tells you how many years it will take for you to break even. After breaking even, the model predicts the benefits over time. It is also important to know that this tool is to be used simply as an estimation device. The actual cost/benefit, if you choose to move ahead with this project, is very likely to be substantially different than this, or any, model indicates.
Overview of Questionnaire
The information needed to complete this model will be from 3 major areas. The first portion asks about the costs of supplies and labor that will be needed for this project. The second portion will deal with the machinery and equipment cost. The final portion will be used to help estimate how your land will improve if this treatment is undertaken, as well as how it will degrade if nothing is done.
Click here to get started: Cost/Benefit Analysis of Annual Grass Management (microsoft excel file)