The Cost of Defense Alternatives

Abstract : This article, used in the course for senior military off icers and civilian executives, develops the concept that cost is what one must give up to get what one wants. Additionally, the various uses of the myriad of costs in decision making and budgeting is discussed. Keywords: Cost, Present value, Decision making, Analysis, Budgeting, Programming, Cost estimates, Economic analysis, Life cycle costs, Planning programming budgeting, Resource management.