Urban Development Project Evaluation Using Multi-Stakeholder Cost–Benefit Analysis

Abstract

In this template file as introduction for the format of this journal. All content should follow the suggested AbstractEn style.Groundbreaking methods, which can combine stakeholder analysis and cost–benefit analysis (CBA) on urban development projects, are lacking. This study thus proposes an evaluation framework using CBA integrated with stakeholder interest mapping through focus group discussion and analytical hierarchy process. The proposed framework is demonstrated as the methodology for the study. The investigation takes eight residential developments in Sleman, Indonesia. Stakeholder interest mapping is found to provide empirical information regarding stakeholder concerns about urban land-use and development. In addition, multi-stakeholder CBA enables evaluation to identify and estimate cost and benefit distributions for each stakeholder. Moreover, the identification of stakeholder-focused cost–benefit and the calculation of the net present value and benefit–cost ratio simultaneously assist in the estimation of the total economic value and its proportional fairness arising from the development decision. Furthermore, this proposed urban development evaluation framework is beneficial as a preventive measure of conflicts among stakeholders caused by the externalities of urban development projects.