This document presents an application of cost-benefit analysis to a hypothetical university parking problem. After discussing cost-benefit analysis in general, the document applies this technique to hypothetical data in light of a checklist for general cost-benefit procedure. The checklist includes the following steps: (1) examine and quantify objectives; (2) array all alternatives; (3) develop total costs and analyze alternatives in detail; (4) describe and estimate spillover effects, uncertainties, and unquantifiables; and (5) in light of costs, benefits, and spillover effects, choose the most attractive alternative. Tables and graphs are used to illustrate the analytical process. [Not available in hard copy due to marginal legibility of original document.] (LLR)