Regulatory Impact Analysis (RIA)
Definition - What does Regulatory Impact Analysis (RIA) mean?
A regulatory impact analysis (RIA) is a document that contains a systematic approach to identifying and assessing the positive and negative impacts of a proposed or existing statutory regulation. The RIA is a comparative process that uses research and numerical analytical methods, such as benefit/cost analyses, to assess whether a particular regulation is capable of achieving the desired objectives successfully.
Trenchlesspedia explains Regulatory Impact Analysis (RIA)
Government bodies utilize the RIA to ensure that regulations being developed and proposed are of an acceptable quality and are technically feasible. Regulations, such as those pertaining to pollution and environmental protection, are of the utmost importance in trenchless construction activities.
Disposing of construction materials, noise pollution and air pollution are just some of the regulations that must be strictly adhered to during trenchless construction procedures. It is therefore important that these regulations are carefully taken into consideration during the initial construction planning process to avoid increased compliance costs and time lost due to rework.