Changes

# Frequency = 4; Time spent per occurrence = 300 hours

# Frequency = 4; Time spent per occurrence = 300 hours

All of the above methods will result in 1,200 hours being spent on the activity per year for businesses that are in the market at the start of the year. However, with positive stakeholder growth, the selected frequency determines at which point new entrants will enter the market and therefore begin to incur the cost. Stakeholders who enter the market partway through the year would not incur the cost as many times as those who were already there at the start of the year. Also, with 1,200 periods per year, every subsequent period will be discounted to a slightly greater extent to bring it back to the present-value base year. Compared to using a frequency of 1 and a time spent per occurrence of 1,200 hours, using a frequency of 1,200 and a time spent per occurrence of 1 hour will result in slightly higher discounted impacts. In summary, the choice of frequency can affect the total impact estimates, so different methods of modelling the activity by shifting between frequency and time spent will not give the exact same results. Use your judgement to determine the best way to model each activity.   

All of the above methods will result in 1,200 hours being spent on the activity per year for businesses that are in the market at the start of the year. However, since the frequency determines the number of periods, it also determines at which point new entrants will enter the market and therefore begin to incur the cost. Stakeholders who enter the market partway through the year would not incur the cost as many times as those who were already there at the start of the year. With frequency = 1, all new entrants are assumed to join the market and incur the ongoing cost at the end of the year, meaning that all new entrants would spend 1,200 hours on the activity. This implies that the undiscounted impacts will be different depending on the selected frequency. Also, with 1,200 periods per year, every subsequent period will be discounted to a slightly greater extent to bring it back to the present-value base year. Compared to using a frequency of 1 and a time spent per occurrence of 1,200 hours, using a frequency of 1,200 and a time spent per occurrence of 1 hour will result in slightly higher discounted impacts. In summary, the choice of frequency can affect the total impact estimates, so different methods of modelling the activity by shifting between frequency and time spent will not give the exact same results. Use your judgement to determine the best way to model each activity.   

'''Frequency < 1'''   

'''Frequency < 1'''