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A framework for assessing the social and economic impact of sustainable investments

Räikkönen M., Kunttu S., Uusitalo T., Takala J., Shakeel S. R., Tilabi S., Forss T., Koivunen J.

Management and Production Engineering Review

2016

Vol. 7, No. 3

79--86

Investments towards sustainable development are vital for the future and they must be carefully planned to deliver immediate and long-term benefits. Hence, the ability to communicate the forms of impact of sustainable investments to local societies, people, investors and other stakeholders can provide a competitive advantage. However, the assessments are often under pressure to demonstrate short-term effects rather than emphasise the long-term impact. In addition, indirect and intangible forms of impacts should not be measured solely in economic terms. This paper proposes an assessment framework to support the integrated economic and social impact assessment of sustainable investments aimed at improving physical and socio-economic wellbeing. The framework is demonstrated in two case studies: new construction and renovation investments in affordable housing and social impact investment in sustainable development. The investments in the case studies are evaluated, selected and prioritized not only in terms of money but also with regard to sustainability, social acceptability and their overall impact on society, as a whole. The results indicate that a systematic integrated assessment of monetary and non-monetary factors can be successfully combined with the sustainable development decisions.

Updating a maintenance programme based on various information sources

Ahonen T., Reunanen M., Heikkila J., Kunttu S.

Journal of KONBiN

2006

No. 2

69--76

Optimised decision making in maintenance programme development can lead to higher profitability. Different sources of data can be utilised in maintenance optimisation. Models for converting data into information and procedures for using this information in order to develop an efficient maintenance programme can be improved. An ongoing VTT project aims to develop procedures to combine the use of different information sources. This paper describes how the presented approach has been applied in a case study of the research project.