The current use and potential of cost benefit analysis in water sector projects

The investment needed in global water infrastructure is significant. Infrastructures in water supply and sanitation alone are expected to require USD 6.7 trillion by 2050. These infrastructures must provide investment justifications when seeking funding from disbursement sources, in competition with...

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Autores principales:	Dino Ratnaweera, Arve Heistad, Ståle Navrud
Formato:	article
Lenguaje:	EN
Publicado:	IWA Publishing 2021
Materias:	cost benefit analysis eia lca total economic value water infrastructures Water supply for domestic and industrial purposes TD201-500 River, lake, and water-supply engineering (General) TC401-506
Acceso en línea:	https://doaj.org/article/05c22f66e2f142dfa395e672cfa8af7e
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spelling	oai:doaj.org-article:05c22f66e2f142dfa395e672cfa8af7e2021-11-06T07:14:52ZThe current use and potential of cost benefit analysis in water sector projects1606-97491607-079810.2166/ws.2020.364https://doaj.org/article/05c22f66e2f142dfa395e672cfa8af7e2021-06-01T00:00:00Zhttp://ws.iwaponline.com/content/21/4/1438https://doaj.org/toc/1606-9749https://doaj.org/toc/1607-0798The investment needed in global water infrastructure is significant. Infrastructures in water supply and sanitation alone are expected to require USD 6.7 trillion by 2050. These infrastructures must provide investment justifications when seeking funding from disbursement sources, in competition with other services (such as health, education, transport, elderly care etc.). We present a review that identifies monetary valuation gaps in regional and global cost benefit analysis (CBA) guidelines that underpin investment justifications. Case studies of Scandinavian appraisal reports written according to these guidelines indicate an alarmingly low use of monetary valuation on socioeconomic and environmental impacts caused by water sector projects. The findings suggest a need for broader and more accessible recommendations for water sector specific valuation methods. The need to develop a more accessible CBA framework for water infrastructure project managers is theoretically discussed, with emphasis on utilising monetary valuation methods and secondary source data. We identify valuation methods fragmentally discussed in the guidelines that should be adapted and applied, in time and cost-efficient ways, to water infrastructure projects. HIGHLIGHTS Scandinavian water sector CBA appraisals lack monetary valuation of socioeconomic and environmental impacts of water infrastructure projects.; Our study of 15 CBA guidelines reveal fragmented and conservative valuation practices, possibly causing the low CBA practice rate in the water sector.; Secondary data sources can be used as quantitative components in a more accessible and applicable CBA.;Dino RatnaweeraArve HeistadStåle NavrudIWA Publishingarticlecost benefit analysiseialcatotal economic valuewater infrastructuresWater supply for domestic and industrial purposesTD201-500River, lake, and water-supply engineering (General)TC401-506ENWater Supply, Vol 21, Iss 4, Pp 1438-1449 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	cost benefit analysis eia lca total economic value water infrastructures Water supply for domestic and industrial purposes TD201-500 River, lake, and water-supply engineering (General) TC401-506
spellingShingle	cost benefit analysis eia lca total economic value water infrastructures Water supply for domestic and industrial purposes TD201-500 River, lake, and water-supply engineering (General) TC401-506 Dino Ratnaweera Arve Heistad Ståle Navrud The current use and potential of cost benefit analysis in water sector projects
description	The investment needed in global water infrastructure is significant. Infrastructures in water supply and sanitation alone are expected to require USD 6.7 trillion by 2050. These infrastructures must provide investment justifications when seeking funding from disbursement sources, in competition with other services (such as health, education, transport, elderly care etc.). We present a review that identifies monetary valuation gaps in regional and global cost benefit analysis (CBA) guidelines that underpin investment justifications. Case studies of Scandinavian appraisal reports written according to these guidelines indicate an alarmingly low use of monetary valuation on socioeconomic and environmental impacts caused by water sector projects. The findings suggest a need for broader and more accessible recommendations for water sector specific valuation methods. The need to develop a more accessible CBA framework for water infrastructure project managers is theoretically discussed, with emphasis on utilising monetary valuation methods and secondary source data. We identify valuation methods fragmentally discussed in the guidelines that should be adapted and applied, in time and cost-efficient ways, to water infrastructure projects. HIGHLIGHTS Scandinavian water sector CBA appraisals lack monetary valuation of socioeconomic and environmental impacts of water infrastructure projects.; Our study of 15 CBA guidelines reveal fragmented and conservative valuation practices, possibly causing the low CBA practice rate in the water sector.; Secondary data sources can be used as quantitative components in a more accessible and applicable CBA.;
format	article
author	Dino Ratnaweera Arve Heistad Ståle Navrud
author_facet	Dino Ratnaweera Arve Heistad Ståle Navrud
author_sort	Dino Ratnaweera
title	The current use and potential of cost benefit analysis in water sector projects
title_short	The current use and potential of cost benefit analysis in water sector projects
title_full	The current use and potential of cost benefit analysis in water sector projects
title_fullStr	The current use and potential of cost benefit analysis in water sector projects
title_full_unstemmed	The current use and potential of cost benefit analysis in water sector projects
title_sort	current use and potential of cost benefit analysis in water sector projects
publisher	IWA Publishing
publishDate	2021
url	https://doaj.org/article/05c22f66e2f142dfa395e672cfa8af7e
work_keys_str_mv	AT dinoratnaweera thecurrentuseandpotentialofcostbenefitanalysisinwatersectorprojects AT arveheistad thecurrentuseandpotentialofcostbenefitanalysisinwatersectorprojects AT stalenavrud thecurrentuseandpotentialofcostbenefitanalysisinwatersectorprojects AT dinoratnaweera currentuseandpotentialofcostbenefitanalysisinwatersectorprojects AT arveheistad currentuseandpotentialofcostbenefitanalysisinwatersectorprojects AT stalenavrud currentuseandpotentialofcostbenefitanalysisinwatersectorprojects
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The current use and potential of cost benefit analysis in water sector projects

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