Revision to Standards Process to Include Cost, Risk, and Benefit Analysis

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Status
SAR comments are under consideration.

Purpose/Industry Need
The NERC Reliability Standards Process Manual should be revised to require the development of a costs, risks, and benefits analysis with each standard that is developed to aid in judging the appropriateness of proposed penalties and sanctions, and to provide information to the Board of Trustees on the costs to implement the proposed standard in order to assess the benefits of increased reliability it would provide against the costs of achieving that benefit.