2016 Birmingham UWP CBA Birmingham Urban Wellbeing Park Cost Benefit Analysis
Client: Witton Lodge Community Association
Publication Date: February 2016
Author: Oliver Hölzinger (CEEP)

 

Summary:

The aim of this Urban Wellbeing Park (UWP) Cost Benefit Analysis (CBA) was to assess the worthiness of the UWP project. This is a social CBA also taking impacts on the environment and people's wellbeing and health into account. This methodical approach is innovative as such public wellbeing effects are usually not assessed as part of CBAs. Costs and benefits were assessed for the time period 2016 to 2040 including the formal UWP project duration (2016-2020) as well as a post-project phase of 20 years as the aim of the UWP project is to generate sustainable benefits. Based on the best (central) estimate the assessment shows that the UWP project results in a net-benefit (Social Return on Investment) of more than £1.1 million between 2016 and 2040 and is therefore worthwhile. The Benefit-Cost Ratio (BCR) is 1.55 which means that every £1 spend on the UWP project is estimated to result in a social return on investment of £1.55. These figures should be interpreted as baseline value as many benefits of the UWP project such as education, food, volunteers and many health benefits could not be quantified at this stage and therefore do not show up in the calculation above. This is because indicators were still in development or scientific evidence to date does not allow calculating benefits in monetary terms. The real net-benefit of the UWP project may therefore be by magnitudes higher than what the figures above show.

 

Download:

Birmingham Urban Wellbeing Park CBA (pdf, 0.6mb)