3.12 The economic dimension is the analytical heart of a business case where detailed appraisal takes place. It considers the value of different options to the UK and, where appropriate, the impact on different groups of people or parts of the UK. The measure of value to the UK as a whole is referred to here as social value. In the case of Official Development Assistance (ODA), social value is the net benefit to the recipient country.
3.13 Options appraisal in the economic dimension leads to the identification of a preferred option that is an optimum balance between costs, benefits and risks to society and the public sector, allowing for any unquantifiable factors which could affect a decision.