A framework for measuring social value in infrastructure and built environment projects: an industry perspective
- 22 October 2021
- journal article
- research article
- Published by Thomas Telford Ltd. in Engineering Sustainability
- Vol. 175 (4), 1-11
- https://doi.org/10.1680/jensu.21.00029
Abstract
As the infrastructure and built environment sectors shift from traditional economic valuation towards more holistic approaches, projects are being designed, built and evaluated in new ways. An important emerging technique for the economic evaluation of projects is social value measurement. This paper sets out the foundations for the social value measurement techniques that underpin the methods and frameworks developed in central governments and by multilateral and international organisations and describes how these can be adapted to value the broader societal and environmental effects of infrastructure and built environment projects. The paper provides practical evidence of social value measurement in valuing heritage impacts for Stonehenge World Heritage Site as well as presenting a detailed account of the foundations of cost-benefit analysis as a tool for social value measurement and non-market valuation.Keywords
This publication has 2 references indexed in Scilit:
- SROI as a Method for Evaluation Research: Understanding Merits and LimitationsVOLUNTAS: International Journal of Voluntary and Nonprofit Organizations, 2014
- A Primer on Nonmarket ValuationPublished by Springer Science and Business Media LLC ,2003