Final answer:
Intangible benefits of a project are tangible and easily converted to monetary values, although they may be subject to omission from cost-benefit analysis.
Step-by-step explanation:
The intangible benefits of a project are characterized as being tangible and easily converted to monetary values. These benefits may not be easily quantifiable and measurable, but they can still be expressed in terms of monetary value. For example, an intangible benefit of a project could be improved customer satisfaction, which can lead to increased sales and revenue for a business.
Intangible benefits are not irrelevant to project evaluation as they can contribute to the overall success and value of a project. However, they may be subject to omission from cost-benefit analysis due to the challenges associated with quantifying and measuring them.