hello Lara.  yes there is a ...

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hello Lara.  yes there is a practical tool.   use Net Present Value.  at the end of the day, the lowest total cost over 30 years is best.  its waste water.   Capital cost, yearly repair and maintenance cost and daily operating cost including everything that affects your EIA.  air quality, noise pollution and discharges.  

 

as for N and P, you live in the EU and thats part of the local requirements.  

 

have fun