Delivering sustainability therapy in Sustainable Development projects

This paper explores the apparent contradiction between the 'linearity' of most Sustainable Development projects, with time-bound and defined outputs achieved at a fixed cost, and an implied 'circularity' of the theory whereby there is no 'end'. Projects usually have clear parameters within which they are implemented, and the inclusion of elements such as the need for accountability, measurable impact and,value for money' have grown in importance. It could be argued that we live in a 'projectified' and therefore linear world. The paper explores the potential contradiction between 'linearity' and 'circularity', and suggests that one way around this is to frame the project within a form of the Kolb Learning Cycle heuristic. This will facilitate a rationalisation from those implementing the sustainable development project as to why decisions are being made and for whom. If these questions are opened up to the project stakeholders, including beneficiaries, then the Kolb cycle could encourage learning and understanding by all involved. It could also provide Sustainability Therapy to those trapped in processes, which they find orthogonal to their own perceptions. It is suggested that such learning, therapy and reflective practice should be a valid output of the sustainable development project, although typically the focus is only upon the final outputs and how they feed into policy. Ironically funders would be well advised to take a broader perspective in order to achieve true 'value for money' within such projects, even if learning is not an easily measurable or tangible outcome. These points are explored within the context of the wider literature and experience with a sustainable development project undertaken in Malta. (c) 2005 Elsevier Ltd. All rights reserved.

Story telling in sustainable development projects

This paper constitutes an attempt to find a means to represent multiple stories in the strong narrative of conventional sustainable development (SD) projects. The authors' experience of such projects in various parts of the world indicates that they have a tendency to arise from and reflect a dominant mindset, placing the SD project in what can be a working environment that is inimical to the very ideals that SD is supposed to represent. Short-termism and value for money drive project formats and objectives, whilst counter-narratives and alternative stories arising from stakeholders in such projects are often ignored. Yet these alternative threads often contain strong SD messages of their own and could, if effectively utilized, enhance the SD project process. This paper sets out the case for a new field - 'project ethnography' - allied with the growing use of meta-analysis to compare project 'stories'. The analytical model applied to compare projects is based on the Kolb learning cycle and involves a (3 X 4)-fold questioning of project conceptual ization and roll-out. Copyright @ 2oo6 John Wiley & Sons, Ltd and ERP Environment.

Problem structuring methods: theorizing the benefits of deconstructing sustainable development projects

Problem structuring methods or PSMs are widely applied across a range of variable but generally small-scale organizational contexts. However, it has been argued that they are seen and experienced less often in areas of wide ranging and highly complex human activity-specifically those relating to sustainability, environment, democracy and conflict (or SEDC). In an attempt to plan, track and influence human activity in SEDC contexts, the authors in this paper make the theoretical case for a PSM, derived from various existing approaches. They show how it could make a contribution in a specific practical context-within sustainable coastal development projects around the Mediterranean which have utilized systemic and prospective sustainability analysis or, as it is now known, Imagine. The latter is itself a PSM but one which is 'bounded' within the limits of the project to help deliver the required 'deliverables' set out in the project blueprint. The authors argue that sustainable development projects would benefit from a deconstruction of process by those engaged in the project and suggest one approach that could be taken-a breakout from a project-bounded PSM to an analysis that embraces the project itself. The paper begins with an introduction to the sustainable development context and literature and then goes on to illustrate the issues by grounding the debate within a set of projects facilitated by Blue Plan for Mediterranean coastal zones. The paper goes on to show how the analytical framework could be applied and what insights might be generated.

Real option pricing in mixed-use development projects

The application of real options theory to commercial real estate has developed rapidly during the last 15 Years. In particular, several pricing models have been applied to value real options embedded in development projects. In this study we use a case study of a mixed use development scheme and identify the major implied and explicit real options available to the developer. We offer the perspective of a real market application by exploring different binomial models and the associated methods of estimating the crucial parameter of volatility. We include simple binomial lattices, quadranomial lattices and demonstrate the sensitivity of the results to the choice of inputs and method.