Conventional cost/benefit or project analysis has generally not taken into account circumstances in which the project under consideration is large enough that its introduction to the economy would have significant general equilibrium effects. In this paper, rules are examined that would indicate whether such large projects should be accepted or rejected. The rules utilize information yielded by before-project and after-project equilibrium prices and production data. Rules are developed for the undistorted ''first-best'' case, the case in which the fixed costs of the project are covered by distortionary taxation, and for the case of projects producing public goods. 34 references.