Value of Time
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Title: Value of Time

Essay Details:

Subject: Business
Author: Les B
Date: July 24, 2016
Level: University
Grade: A
Length: 9 / 2529

Essay text:

The value of working time is the opportunity cost of that time to the employer, which is generally equivalent to the salary of the worker. For example, if a worker is on a salary of ?15 per hour travels to a meeting, the value of time in that case is ?15 per hour, because that is the amount the employer would be willing to pay to reduce travel time (as travel time can be considered to be "wasted", i.e. not spent working). According to the UK Department for Transport, calculation is done for the average values of time for travel on various modes of transport so that these values can be used to appraise transport projects...

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