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CRC for Water Sensitive Cities – Comprehensive economic evaluation framework (IRP2) - Overview

16/02/2018

CRC for Water Sensitive Cities’ IRP2 project is developing an economic evaluation framework to identify and quantify economic, environmental and community values of investments in water sensitive practices and systems  

The Integrated Research Project 2: Comprehensive Economic Evaluation Framework (IRP2) has recently completed a year of research, translation and engagement activities, and has produced several technical reports which are now available to the public, including: Review of existing BCA tools, Review of Non-Market Values of Water Sensitive Systems and Practices, Stakeholder Needs Assessment & Stakeholder Engagement Strategy.

In addition to the above, the project is in the process of developing resources such as a database of non-market values (NMV) and a Benefit Cost Analysis (BCA) tool:

  • The BCA tool relevant for investing in water sensitive systems and practices is almost complete. The tool was designed in consultation with project steering members and industry, who will be given the opportunity to trial the tool and provide feedback early this year. 
  • The database of non-market values has been designed, and currently holds over 220 Australian values. A useful Industry Note has been produced that summarises the key findings.  The draft version of the database will be made available to project steering committee shortly, and will be open to the broader group of CRCWSC Participants later in the year.

Progress and findings of the research are available through a range of platforms, including seminars, site visits, workshops, briefings, networking, presentations to committees, meetings, and delivery of milestone reports, journal articles, working papers and newsletters. To keep up to date on events and outputs from IRP2, please visit the CRC IRP2 website or contact Tammie Harold on tamara.harold@uwa.edu.au.