These alternatives include not only construction projects but also demand reduction measures, such as road pricing, developing more walkable neighbourhoods and promoting remote work.
[1] Equal footing means that there is no discrimination against some alternatives based on political or ideological factors.
LCPM itself is generally more costly than cost–benefit analysis, because of the requirement to study objectively all potential alternatives.
However, it can provide large savings to taxpayers because it will do a better job of selecting those projects which maximise benefits while minimising costs.
For example, it has been required by Washington State law (RCW 47.80.030) for regional transport plans since July 1, 1994.