Marc J. Rogoff, Ph.D. and Laurel C. Ureña, M.S., explain the major cost categories and how they impact a specific cost analysis for a recycling program. The format uses examples to put the financial information into context for a Public Works Director or Project Manager to understand how cost analysis can help in determining the feasibility of a new or enhanced program.
The economic concept of the time value of money is an important one to understand because it allows the recycling coordinator or analyst to compare the feasibility of different solid waste program alternatives. Driven by interest and inflation, it boils down to one simple rule: a dollar invested tomorrow is worth less than a dollar received today.
Read the full article as published in the Florida APWA Reporter, June 2017 edition.
Read the Doing More with Less series of blogs, articles, and case studies of real solutions in an era of reduced budgets.
Increasingly, solid waste and recycling agencies are being asked by their political decision makers to improve efficiency, focus on customers, and reduce increased costs. Many agencies are managed with a combination of manual processes, desktop computer tools, limited vehicle and cart tracking and management tools, and custom databases. While effective, these methodologies often entail more effort, labor, and costs.
Smart technologies are expected to grow substantially over the next decade as agencies attempt to minimize their overall costs in solid waste collection and recycling and increase overall efficiency. As discussed briefly in this article, smart technologies have advantages and disadvantages. As agencies investigate technology to help support their service, ensure continued quality service delivery and meet demanding business requirements, it is important to conduct feasibility assessments to evaluate the economic costs to implement and update the use of new technologies in a sustainable manner.
Marc J. Rogoff and Laurel Urena of SCS Engineers.