Impact(sustainability)
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| − | Since the publication of the Brundtland Report in 1987, there has been a constant interest in the development of indicators to measure and/or evaluate aspects of sustainable development. This growing interest received a major boost after the Earth Summit in 1992 where Agenda 21 specified the need to develop indicators of sustainable development for use at the national, regional, and global levels (United Nations, 1992). | + | Since the publication of the Brundtland Report in 1987, there has been a constant interest in the development of indicators to measure and/or evaluate aspects of sustainable development. This growing interest received a major boost after the Earth Summit in 1992 where Agenda 21 specified the need to develop indicators of sustainable development for use at the national, regional, and global levels (United Nations, 1992). The United Nations Sustainable Development Goals (SDGs) provide a comprehensive framework for measuring progress towards sustainable development, and include a range of indicators for tracking progress on specific goals <ref> https://sdgs.un.org/goals </ref>. |
| − | + | In General, the field of project sustainability measurement and reporting is constantly evolving, as organizations seek to more accurately and comprehensively understand, measure and be informed about the impact of their sustainability projects. Latest developments in the state of the art for measuring the impact of sustainability projects using sustainable indicators are: | |
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| − | + | '''Integrated Reporting''' - Integrated reporting is a framework that seeks to provide a more comprehensive view of an organization's value creation over time, by integrating financial and non-financial indicators of performance. By including sustainability indicators in their reporting, organizations can better communicate their impact on the environment and society, as well as their financial performance. The International Integrated Reporting Council (IIRC) provides guidance on how to implement an integrated reporting approach. | |
| + | |||
| + | '''Social Return on Investment (SROI)'''- SROI is an approach for measuring the social, environmental, and economic value created by a project or program. It involves identifying and valuing the outcomes that result from the project, and assessing the costs associated with achieving those outcomes. SROI can be a useful tool for demonstrating the long-term benefits of sustainability projects, as well as for prioritizing investments that will have the greatest impact. The SROI Network provides guidance on how to implement an SROI analysis. | ||
| + | |||
| + | '''Life Cycle Assessment (LCA)''' - LCA is a method for quantifying the environmental impacts of a product, service, or process over its entire life cycle, from raw material extraction to disposal. LCA can help organizations identify areas where they can reduce their environmental impact, and prioritize sustainability improvements. The International Organization for Standardization (ISO) provides standards for conducting LCA studies. | ||
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| + | Sustainable development consists of three dimensions: the environmental, the social, and the economic areas. Project, program and portfolio managers could find benefit in representing these three dimensions under a Venn diagram as M.L. Brusseau <ref>M.L. Brusseau, in Environmental and Pollution Science (Third Edition), 2019</ref> which illustrates how these three pillars are interconnected and interdependent. The diagram would show the areas where the pillars overlap, indicating the ways in which each pillar contributes to and depends on the others. | ||
For example, the area where the social and environmental pillars overlap might represent initiatives that aim to improve people's health and well-being by reducing pollution and protecting the natural environment. The area where the economic and environmental pillars overlap might represent investments in renewable energy and sustainable agriculture, which both create economic benefits while also reducing environmental harm. | For example, the area where the social and environmental pillars overlap might represent initiatives that aim to improve people's health and well-being by reducing pollution and protecting the natural environment. The area where the economic and environmental pillars overlap might represent investments in renewable energy and sustainable agriculture, which both create economic benefits while also reducing environmental harm. | ||
Revision as of 19:35, 5 May 2023
Abstract
Sustainability has become a crucial consideration in project management. As organizations strive to align with the Sustainable Development Goals (SDGs), project managers must find ways to ensure that their projects contribute to a more sustainable future. This article explores the role of impact assessment in sustainability projects and how project, program, and portfolio management methodologies can be adapted to prioritize sustainability.
One key aspect of assessing impact is the use of sustainable indicators. Indicators can provide valuable insights into the effectiveness of sustainability projects and help to track progress towards achieving SDGs [1].
However, the usage of sustainability into project management methodologies requires a significant shift in mindset and priorities. Project managers must consider the long-term impact of their projects, not just the immediate benefits and deliverables [2]. At the portfolio level, organizations can identify areas where they can have the greatest impact and prioritize projects that contribute to their sustainability goals [3].
In conclusion, the article emphasizes the need for project managers to consider the impact of their projects on sustainability goals. This requires a collaborative effort from all stakeholders involved in the project, but the benefits can be significant, both for the organization and for the planet.
Big Idea
Since the publication of the Brundtland Report in 1987, there has been a constant interest in the development of indicators to measure and/or evaluate aspects of sustainable development. This growing interest received a major boost after the Earth Summit in 1992 where Agenda 21 specified the need to develop indicators of sustainable development for use at the national, regional, and global levels (United Nations, 1992). The United Nations Sustainable Development Goals (SDGs) provide a comprehensive framework for measuring progress towards sustainable development, and include a range of indicators for tracking progress on specific goals [4].
In General, the field of project sustainability measurement and reporting is constantly evolving, as organizations seek to more accurately and comprehensively understand, measure and be informed about the impact of their sustainability projects. Latest developments in the state of the art for measuring the impact of sustainability projects using sustainable indicators are:
Integrated Reporting - Integrated reporting is a framework that seeks to provide a more comprehensive view of an organization's value creation over time, by integrating financial and non-financial indicators of performance. By including sustainability indicators in their reporting, organizations can better communicate their impact on the environment and society, as well as their financial performance. The International Integrated Reporting Council (IIRC) provides guidance on how to implement an integrated reporting approach.
Social Return on Investment (SROI)- SROI is an approach for measuring the social, environmental, and economic value created by a project or program. It involves identifying and valuing the outcomes that result from the project, and assessing the costs associated with achieving those outcomes. SROI can be a useful tool for demonstrating the long-term benefits of sustainability projects, as well as for prioritizing investments that will have the greatest impact. The SROI Network provides guidance on how to implement an SROI analysis.
Life Cycle Assessment (LCA) - LCA is a method for quantifying the environmental impacts of a product, service, or process over its entire life cycle, from raw material extraction to disposal. LCA can help organizations identify areas where they can reduce their environmental impact, and prioritize sustainability improvements. The International Organization for Standardization (ISO) provides standards for conducting LCA studies.
Sustainable development consists of three dimensions: the environmental, the social, and the economic areas. Project, program and portfolio managers could find benefit in representing these three dimensions under a Venn diagram as M.L. Brusseau [5] which illustrates how these three pillars are interconnected and interdependent. The diagram would show the areas where the pillars overlap, indicating the ways in which each pillar contributes to and depends on the others.
For example, the area where the social and environmental pillars overlap might represent initiatives that aim to improve people's health and well-being by reducing pollution and protecting the natural environment. The area where the economic and environmental pillars overlap might represent investments in renewable energy and sustainable agriculture, which both create economic benefits while also reducing environmental harm.
Overall, a Venn diagram about sustainability can be a useful tool for understanding the complex relationships between different aspects of sustainable development and the need for balance between them.
Annotated bibliography
- ↑ Ahi, P., Searcy, C., & Kramar, R. (2021). Sustainability performance measurement and reporting: A systematic review. Journal of Cleaner Production, 295, 126389
- ↑ Kerzner, H. (2021). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons
- ↑ Buggenhout, J., Colpaert, P., & Vanhoucke, M. (2021). An optimization approach for portfolio selection in project management under sustainability constraints. Journal of Cleaner Production, 290, 125631
- ↑ https://sdgs.un.org/goals
- ↑ M.L. Brusseau, in Environmental and Pollution Science (Third Edition), 2019
