Assessing the Benefits and Costs of Homeland Security Research: A Risk‐Informed Methodology with Applications for the U.S. Coast Guard

This article describes a methodology for risk‐informed benefit–cost analyses of homeland security research products. The methodology is field‐tested with 10 research products developed for the U.S. Coast Guard. Risk‐informed benefit–cost analysis is a tool for risk management that integrates elements of risk analysis, decision analysis, and benefit–cost analysis. The cost analysis methodology includes a full‐cost accounting of research projects,...