Controversy over the viability of major development projects such as the proposed sports stadium at the Maze or the Giant’s Causeway Visitor Centre could be avoided by using Cost Benefit Analysis, according to University of Ulster academic Dr Srinath Perera.

Cost Benefit Analysis (CBA) is an analysis technique used to appraise the wider social and economic benefits that can accrue from such large-scale projects.

“In contrast to pure financial appraisals which are often used to assess the viability of projects, a CBA takes into account all the social and economic costs incurred and benefits, such as both direct and indirect employment, generated.

“With heritage site projects, there are often overriding concerns of social and cultural development and preservation of heritage. It is too simplistic to assess the project purely on a financial basis. A CBA is a much better basis for the decision making process and should be fundamental to the final selection of the development option.

“This is particularly true when there are a number of alternative development proposals and the involvement of private finance is to be considered. A CBA enables an impartial analysis of the project, taking in to account all stakeholders and all direct and indirect (spill-over) costs and benefits and provides greater credibility for an evaluation.” 

He adds that a CBA could be used to assess the potential of Derry's Walls as a World Heritage site.

Dr Perera, who is a senior lecturer in Ulster’s School of the Built Environment, has just returned from Turin, Italy, where he delivered a lecture to World Heritage at Work Master students.

The World Heritage Masters students are all managers and developers of World Heritage sites. The programme, developed by the Università degli Studi di Torino (Italy) and the Politecnico di Torino in collaboration with the UNESCO World Heritage Centre, is  targeted at professionals involved in the management of a World Heritage sites and designed to contribute to improved management of World Heritage Sites (WHS) around the world.

For further information, please contact:

Martin Cowley
Telephone: 028 71675083
Email: Martin Cowley