It is not just a good idea, it is key. There should be a cost-benefit analysis for every project.
When we ask people about their objectives and performance measurement strategies, we do not get many answers. A great deal of weight is given to the financing criteria and funds disbursement, but there seem to be significant gaps when it comes to measuring the objectives to be attained.
Objectives must be established when choosing the projects to be financed, but there does not seem to be evidence or data collected to establish which objectives were attained, if there were any. If that were the case, there would be greater uptake of the most viable and best projects.
In your example, this would ensure funding for projects that, at first glance, are a little more expensive but are more cost effective.