For strategy selection, the ‘conservation return on investment’ of a strategy (hereafter ROI) is an important consideration. The conservation ROI estimates the conservation benefit per dollar invested (not to be confused with the conventional definition of ROI as an estimate of financial returns). An estimate of costs is necessary to calculate ROI. Estimate the costs of implementing each strategy, and then calculate ROI by dividing the benefits estimated in the previous step by the strategy’s cost. These ROI estimates will be used in the next CbD 2.0 step — Strategy Selection. When there is a simple minimum goal statement with only one clear element, divide the estimated strategy impact on the metric for that element by the strategy cost. If there is more than one element in the minimum goal statement (as in the marine example above), calculate an ROI for each impact metric by dividing each impact metric by the total strategy cost.