It’s so much easier to measure outputs than outcomes. Social value is an outcome, but how do you measure it? Well the answer for most is, it’s too hard so don’t bother. The Fifth Estate features an article about why the building industry should measure the social value of good design.
The Women’s Property Initiatives in Melbourne provide housing for women and children. They have a system where tenants pay no more than 30 per cent of their income in rent. They knew this was working because they could see improved wellbeing. But how do you measure this social value in money terms?
Emma Williams argues for the building industry to broaden the way they measure the success of a project. If we are to address social inequities, we have to give equal weight to social value. Measuring financial and environmental impacts is only part of the job.
The title of the article is, The difficult task of measuring social value in the built environment.
The Women’s Property initiative found that for every dollar invested, $11.07 of social value was created. Architects can work out the economics of green standards, but not social impact. Success of a project is about the people – that means social value.