Ding, G K C (2005) Developing a multicriteria approach for the measurement of sustainable performance. Building Research & Information, 33(1), pp. 3-16. ISSN 0961-3218
Abstract
In Australia, cost-benefit analysis (CBA) is one of the conventional tools used widely by the public and the private sectors in the appraisal of projects. It measures and compares the total costs and benefits of projects that are competing for scarce resources in monetary terms. Growing concerns that the values of environmental goods and services are often ignored or underestimated in the CBA approach have led to the overuse and depletion of environmental assets. A model of a sustainability index as an evaluation tool that combines economic, social and environmental criteria into an indexing algorithm is presented and described. The sustainability index uses monetary and non-monetary approaches to rank projects and facilities on their contribution to sustainability. This process enables the principle of trade-off to occur in the decision-making process and thereby allows environmental values to be considered when selecting a development option. This makes it possible to optimize financial return, maximize resource consumption and minimize detrimental effects to the natural and man-made world. A case study is used to demonstrate the model.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost-benefit analysis; decision support system; environmental assessment; project appraisal; project assessment; sustainability index; sustainable development |
| Index terms: | decision-making process, sustainable development, private sector, project appraisal, Australia, case study, decision support, indexing, resource consumption, evaluation tool, appraisal, option, environmental assessment, depletion |
| Subjects: | Geography, health safety and environment, factor and component analysis, information systems, industry analysis, decision analysis, environmental impact, evaluation and assessment methods, data collection methods, project delivery, environmental resource management |
| Topics: | Health and Safety, Business Strategy, Research Practice, Geographical Context, Project Management, Risk Management, Sustainability |
| Descriptive scope: | 4 PCEA |
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