Search Results (111)

Mountain dairy farms rely heavily on locally produced forage and are therefore vulnerable to wildlife pressure on permanent grasslands. This single-farm pilot case study quantifies the farm-level economic effects of damage caused by red deer (Cervus elaphus) on a dairy farm in Slovenia’s Pohorje mountain region. A simulation-based cost assessment framework links deer grazing and winter trampling to forage loss, ration energy and protein supply, milk yield, production costs, and a farm-budget revenue-to-cost indicator. Under the baseline assumptions, one adult deer causes an estimated annual loss of EUR 270.52, whereas the modal presence of 10 deer results in total damage of EUR 2705.24 and reduces the financial result by 8.69%. The study’s novelty lies in tracing direct grassland losses and indirect, nutrition-mediated milk losses within a single auditable farm-level accounting chain. We also audit an archived exploratory Monte Carlo workbook to document its intended uncertainty inputs. Because the financial-output formulas are incomplete, the workbook does not support reproducible probability statements. As the framework is calibrated to a single farm, the deterministic results are conditional case-study estimates and are not intended for regional generalization, forecasting, or econometric inference. Full article

This study investigates the use of mechanical grinding to activate coal bottom ash (CBA) as a low-carbon supplementary cementitious material. Two CBA powders with different fineness levels (75 μm and 45 μm, denoted as SCBA and GCBA) were used to replace 10–50% of cement in mortar specimens. Performance was evaluated through ISO-standard strength tests and the activity index, while micro-analytical techniques characterized the hydration mechanism. The results show that this grinding treatment significantly enhanced pozzolanic activity; at 28 days, the compressive strength of the mixture with 30% GCBA replacement reached 30.6 MPa, which was 44% higher than that of the corresponding SCBA mixture (21.2 MPa). Microstructural analysis confirmed the consumption of portlandite (CH) and the predominant formation of interwoven C-S-H gels and ettringite (AFt), along with residual quartz, calcite, and mullite. These products refine the pore structure and densify the interfacial transition zone. Economic and environmental analysis reveals that CBA substitution reduces raw material costs by 120 CNY/ton and carbon emissions by approximately 261.3 kg CO₂/t. Based on the balance of mechanical integrity and environmental benefits, mechanical grinding of CBA to 45 μm at a 30% cement replacement level is proposed as a promising approach for producing low-carbon cementitious materials and for future application in green concrete. Full article

This study examines how manufacturing SMEs can structure digital transformation as a strategic, risk-managed process under demand uncertainty and resource constraints. Integrating digital maturity assessment with cost–benefit analysis (D3A–CBA framework), the study evaluates a phased investment strategy at a Turkish metal processing SME, grounding the analysis in real production order data and firm-level financial records. The phased structure—informed by real options reasoning—conditions capacity expansion on measurable Phase-1 performance thresholds, thereby limiting downside risk while preserving strategic flexibility. Under the base scenario (10% real discount rate), Phase-1 yields an NPV of TRY 3,830,738 and an IRR of 12.4%; the combined portfolio reaches TRY 17,365,066. However, a 10,000-iteration Monte Carlo simulation reveals a 29.8–33.0% probability of negative NPV, and sensitivity analysis exposes an asymmetric risk profile in which moderate demand shocks—rather than cost shocks—drive non-viability. The findings demonstrate that digital transformation in resource-constrained SMEs requires not only positive financial returns but also strategic mechanisms to manage demand uncertainty, exchange rate volatility, and organizational adaptation. The proposed framework offers SME managers a reproducible, evidence-based approach to aligning investment decisions with strategic objectives while containing capital risk. Full article

This paper evaluates the efficiency of modernization of the regional railway line Prievidza–Jelšovce in Slovakia using cost–benefit analysis (CBA), reflecting increased investment costs and the potential electrification of the line. The assessment is based on a detailed analysis of transport demand and infrastructure conditions, where daily railway passenger volumes range between 2300 and 3700 passengers, while individual car transport exceeds 10,000 passengers per day in most sections. Two alternative modernization variants were evaluated. The results show that the project generates socio-economic benefits, particularly through travel time savings amounting to approximately €42.3 million and reductions in operating costs and externalities. Significant environmental benefits were identified, especially in the case of the more advanced variant, with reductions in air pollution reaching €56.3 million and greenhouse gas emissions reaching €42.2 million. Despite these benefits, the economic evaluation indicates negative net economic outcomes for both variants. The total economic investment costs (excluding VAT and adjusted for economic appraisal) reach €543.4 million for the EIA variant and €511.9 million for the proposed variant, resulting in net economic values of −€186.2 million and −€70.8 million, respectively. The results therefore suggest that neither variant achieves full economic efficiency under the given assumptions, although the proposed variant performs significantly better. The findings highlight the strong sensitivity of project efficiency to investment costs and the scope of modernization. The study confirms the necessity of regularly updating CBA analyses in transport projects, as changes in input parameters can substantially influence investment decision-making. Full article

The transition towards circular economy is now a key strategy to address the environmental issues we are facing. Within this framework, biochar, a carbon-rich material derived from residual agricultural pyrolysis, can represent a sustainable and circular solution. This paper aims at evaluating the possibility of implementing a local biochar-production system as part of an economic and social strategy of the redevelopment of an abandoned rural site, Borgo di Perolla, in Tuscany, Italy. A cost–benefits analysis (CBA) was conducted to evaluate the economic feasibility of three different scenarios of production and strategies: Scenario 1 considers revenues solely from the production and sale of biochar and wood vinegar; Scenario 2 additionally includes potential income from the sale of voluntary carbon credits; and Scenario 3 incorporates biochar credits within the European Union Emission Trading System (EU ETS). For each scenario, three indicators were calculated: Net-Present Value (NPV), Internal Rate of Return (IRR), and Breakeven point (BEP). The most evident result that emerged is that the sale of biochar and its by-products alone is not sufficient to ensure the project’s economic sustainability, mainly due to high production costs. Only through carbon-credit-trading markets biochar becomes not only an environmentally strategic tool but also an economically rewarding one. In this sense, market infrastructures, such as the ETS, are essential for the dissemination of circular models, like biochar, that generate both environmental and economic benefits. Previous studies on biochar have largely focused on its application and associated benefits, while cost–benefit analyses have primarily examined its economic feasibility through the commercialization of biochar as a soil amendment, particularly within the United States context. The present work contributes to this literature in three main ways. First, it provides a site-specific and replicable CBA framework applied to a real territorial regeneration project (Borgo di Perolla), grounded in primary data collected through field surveys, stakeholder interviews, and expert validation. Second, the study explicitly compares multiple market-access scenarios within the same analytical framework, ranging from biochar-only sales to voluntary carbon markets, allowing for a clear identification of the economic thresholds at which biochar becomes financially sustainable. Third, and most importantly, the main contribution of this work lies in the explicit modeling of biochar integration into the EU Emissions Trading System. This paper extends the analysis to a regulated carbon market scenario, assuming the recognition of biochar-based carbon removals within the EU ETS framework. From a methodological perspective, the study quantitatively assesses how ETS price dynamics affect the profitability, internal rate of return, and break-even point of a biochar project over a long-term horizon. From a policy perspective, the analysis anticipates recent regulatory developments, such as the EU Regulation 2024/3012, on establishing a Union certification framework for permanent carbon removals, carbon farming, and carbon storage in products, by showing how biochar could function as a fully market-integrated climate technology. Full article

In Türkiye, where agriculture consumes 75% of available water and national irrigation efficiency is only 51.3%, irrigation modernization—the conversion of classical open-channel irrigation systems to pressurized pipe systems—presents a primary strategy to achieve significant water savings. This study provides a comprehensive economic assessment of the potential of this strategy. A twofold methodology was employed: first, a cost–benefit analysis (CBA) of the 36,108 ha Ivriz irrigation project, and second, a national model to simulate the economic impact of modernizing nation’s 4.9 million hectares currently irrigated by such classical systems. This approach directly addresses two gaps identified in the literature: the lack of comprehensive project-level economic assessments of full irrigation modernization in large-scale open-channel systems, and the absence of simulations quantifying the national-level economic potential of modernizing Türkiye’s classical irrigation infrastructure. The Ivriz case study reveals that project viability is entirely contingent on the on-farm efficiency achieved post-modernization. At 60% efficiency, water savings are insufficient to make the project economically feasible, whereas at 90% efficiency, substantial water savings render the project highly profitable. At the national level, the analysis indicates that the conserved water could be used to expand Türkiye’s irrigated area by 1.77–2.98 million hectares, generating an additional $3.47–$5.84 billion in annual agricultural income. The findings conclude that while modernization represents a powerful investment, its success requires a comprehensive policy framework that not only funds infrastructure conversion but also mandates integrated support programs to ensure farmers adopt the high-efficiency technologies needed to achieve these savings. Full article

Cost–benefit analysis (CBA), particularly the economic internal rate of return (EIRR), continues to play an important role in infrastructure project appraisal. Using EIRR data from 387 infrastructure projects financed under Japan’s ODA loans (Japanese fiscal years 2001–2020), this study identifies clear sectoral trends: economic infrastructure and brownfield projects generally exhibit higher EIRRs, while no significant differences are observed between tied projects (i.e., projects whose contracts are primarily tied to Japanese firms) and untied projects. A comparison of ex ante and ex post EIRRs for 84 projects shows that estimates may vary due to factors such as changes in demand, project costs, and implementation periods, indicating the practical challenges involved in estimating EIRRs. Qualitative analysis further suggests that non-economic considerations—such as humanitarian needs, national development priorities, and diplomatic interests—may also influence financing decisions. Overall, while CBA remains a valuable and widely used tool, the findings highlight the importance of complementing it with broader sustainability-oriented appraisal approaches that capture the multidimensional value of infrastructure projects. Full article

The increasing need to regenerate public housing stock highlights the importance of adopting integrated evaluation tools capable of supporting transparent, sustainable, and public value-oriented investment decisions. This study compares two alternative intervention strategies—renovation with extension and demolition followed by reconstruction—by applying a Cost–Benefit Analysis (CBA) model developed in two phases. In the first phase, the analysis focuses on social benefits, with the aim of assessing their contribution to collective well-being. The second phase incorporates potential energy-related benefits, estimated on the basis of performance improvements associated with the two design scenarios. The results demonstrate that the integrated consideration of economic, social, and energy–environmental dimensions affects the relative performance differences between the examined strategies, offering a more comprehensive evaluation framework than conventional approaches based solely on monetary costs. The proposed model, which is replicable in Mediterranean contexts, contributes to the ongoing international debate on ex ante evaluation tools and provides operational insights to support urban regeneration policies oriented towards more effective, equitable, and policy-consistent solutions, in line with the objectives of the European Green Deal and the 2030 Agenda. The two-phase structure allows decision-makers to distinguish between short-term social effects and long-term energy-related benefits, offering a transparent support tool for public investment choices under fiscal constraints. Full article

Arid and semi-arid regions of Mexico, such as the Bajío of Guanajuato, face a huge challenge in water resource management. The municipality of León, located in the State of Guanajuato, persistently lacks access to water resources despite having high coverage in urban areas by the León Water Utility System (SAPAL, the abbreviation in Spanish of “Sistema de Agua Potable y Alcantarillado de León”), particularly in peri-urban and rural areas. In this context, this study compares water distribution network expansion with rainwater harvesting (RWH) systems in four rural communities of León. A cost–benefit analysis (CBA) with a 20-year horizon and a 10% social discount rate (SDR) was applied. Results indicate that network expansion is financially unfeasible, whereas RWH emerges as a technically and economically viable alternative, providing household savings and strengthening community resilience. Full article

Landslides rank among the most frequent and devastating natural hazards globally, causing significant loss of life and property. As a result, landslide susceptibility assessment has become a central focus in geohazard research, which is devoted to preventing and alleviating the frequent occurrence of landslides. Numerous analytical models have been applied to evaluate landslide susceptibility, including Frequency Ratio (FR), Logistic Regression (LR), Support Vector Machine (SVM), Random Forest (RF), and various hybrid and neural network-based approaches. This review synthesizes current progress in integrating Nature-based Solutions (NBS) with modeling and policy frameworks, highlighting their potential to provide cost-effective, sustainable, and adaptive alternatives to conventional landslide mitigation strategies. Based on a systematic review of 127 peer-reviewed publications published between 2023 and 2025, selected from Web of Science, ScienceDirect, MDPI, Springer, and Google Scholar using predefined keywords and screening criteria, this study reveals that the most frequently used conditioning factors in landslide susceptibility modeling are slope (96 times), aspect (77 times), elevation (77 times), and lithology (77 times). Among modeling approaches, Random Forest (RF), Support Vector Machine (SVM), hybrid models, and neural network models consistently demonstrate high predictive performance. Despite the expanding body of literature on NBS, only 2.3% of all NBS-related studies specifically address landslide mitigation. The existing literature primarily concentrates on assessing the biophysical effectiveness of interventions such as vegetation cover, root reinforcement, and forest-based stabilization using a range of predictive modeling techniques. However, significant gaps remain in the integration of economic valuation frameworks, particularly cost–benefit analysis (CBA), to quantify the monetary value of NBS interventions in landslide risk reduction. This highlights a critical area for future research to support evidence-based decision-making and sustainable risk governance. Full article

The first extensive Bus Rapid Transit (BRT) system in the Philippines, the EDSA Busway, was put into place as a result of Metro Manila’s ongoing traffic congestion. This study uses an integrated framework that combines cost–benefit analysis (CBA), commuter perception survey, and traffic simulation to assess its economic, social, and environmental implications. The operational viability and traffic impact of the planned Magallanes BRT station were evaluated through simulation using PTV VISSIM. A total of 385 commuters participated in a survey measuring their impressions of safety, accessibility, and satisfaction using a four-point Likert scale. The Busway’s excellent economic feasibility was confirmed by the CBA results, which showed a Benefit–Cost Ratio (BCR) of 15.38 and a Net Present Value (NPV) of ₱778.64 billion. Results from the simulation showed a 24% decrease in PM₂ emissions, a 75% increase in throughput, and a 64% reduction in bus trip time. According to survey results, 61% of commuters said accessibility had improved and 62% said travel satisfaction had increased. The study supports the EDSA Busway’s status as a feasible model for future BRT expansion in Metro Manila and other emerging metropolitan regions by showing how it greatly improves environmental sustainability and mobility efficiency. Full article

This article evaluates both economic and non-economic benefits associated with the implementation of Building Information Modeling (BIM) and the digitization of processes within public sector construction projects of the Czech public sector organization (PSO). The study is based on empirical data from three real projects: the Children’s Sanatorium with Speleotherapy, the Air Rescue Services Base, and the Neurorehabilitation Center. For one of those projects, cost–benefit analysis (CBA) was applied to quantify direct financial savings and indirect operational improvements; however, other projects supported the investigation. Data sources include real project data such as BIM documentation and project budgets. The analysis reveals that BIM adoption led to measurable reductions in rework, improved coordination among stakeholders, and enhanced facility management efficiency, resulting in a cost–benefit ratio of more than 4.5. Results from this article support the results of other already made research and prove the consistency of those results. These findings demonstrate the practical value of BIM in public infrastructure delivery and provide actionable insights for decision-makers seeking to improve project outcomes through digital transformation. Full article

To address the global challenge of sustainable energy transition in cities, there is a growing demand for innovative solutions to provide flexible, low-carbon, and socio-economically profitable energy systems. In this context, there is a need for holistic evaluation frameworks for the prioritization and economic optimization of interventions. This paper provides a literature review on sustainable planning and economic impact assessment of innovative urban areas, such as Positive Energy Districts (PEDs), to analyze research trends in terms of evaluation methods, impacts, system boundaries, and identify conceptual and methodological gaps. A dedicated search was conducted in the Scopus database using several query strings to conduct a systematic review. At the end, 57 documents were collected and categorized by analysis approach, indicators, project interventions, and other factors. The review shows that the Cost–Benefit Analysis (CBA) is the most frequently adopted method, while Life Cycle Costing and Multi-Criteria Analysis result in a more limited application. Only in a few cases is the reduction in GHG emissions and disposal costs a part of the economic model. Furthermore, cost assessments usually do not consider the integration of the district into the wider energy network, such as the interaction with energy markets. From a more holistic perspective, additional costs and benefits should be included in the analysis and monetized, such as the co-impact on the social and environmental dimensions (e.g., social well-being, thermal comfort improvement, and biodiversity preservation) and other operational benefits (e.g., increase in property value, revenues from Demand Response, and Peer-To-Peer schemes) and disposal costs, considering specific discount rates. By adopting this multi-criteria thinking, future research should also deepen the synergies between urban sectors by focusing more attention on mobility, urban waste and green management, and the integration of district heating networks. According to this vision, investments in PEDs can generate a better social return and favour the development of shared interdisciplinary solutions. Full article

Climate change is intensifying the frequency and severity of extreme weather events, threatening the resilience of buildings and urban infrastructure. While technical solutions for climate adaptation in buildings are well documented, their economic viability remains a critical, yet underexplored, dimension of decision-making. This novel systematic review analyzes publications with an exclusive focus on climate adaptation strategies for buildings using cost-based evaluation methods. This review categorises the literature into three methodological clusters: Cost–Benefit Analysis (CBA), Life Cycle Costing (LCC), and alternative methods including artificial intelligence, simulation, and multi-criteria approaches. CBA emerges as the most frequently used and versatile tool, often applied to evaluate micro-scale flood protection and nature-based solutions. LCC is valuable for assessing long-term investment efficiency, particularly in retrofit strategies targeting energy and thermal performance. Advanced methods, such as genetic algorithms and AI-driven models, are gaining traction but face challenges in data availability and transparency. Most studies focus on residential buildings and flood-related hazards, with a growing interest in heatwaves, wildfires, and compound risk scenarios. Despite methodological advancements, challenges persist—including uncertainties in climate projections, valuation of non-market benefits, and limited cost data. This review highlights the need for integrated frameworks that combine economic, environmental, and social metrics, and emphasises the importance of stakeholder-inclusive, context-sensitive decision-making. Ultimately, aligning building adaptation with financial feasibility and long-term sustainability is achievable through improved data quality, flexible methodologies, and supportive policy instruments. Full article

The utilization of knowledge management (KM) assists construction companies in planning for waste management. This study applies KM in the material recovery of a public sector building renovation, focusing on aluminum composite panels (ACPs). The cost/benefit analysis (CBA) method examines suitable scenarios, where costs and benefits cover economic, environmental, and social perspectives. The cost/benefit (C/B) ratios reveal that the repurposing scenario, where ACP waste is repurposed as signboards, is the most suitable scenario, with a C/B of 0.96. The refurbishing scenario, in which ACP waste is refurbished as new facades, may be considered if the labor cost could be reduced through training. The repurposing scenario is further examined with a sensitivity analysis and the Leadership in Energy and Environmental Design certification, and it is found that implementing this scenario serves as a beginning step toward green certification and aligns with Thailand’s national strategies for green building promotion and the long-term Net Zero 2065 target. The study results serve as a guideline for Thailand’s transition toward a low-carbon and resource-efficient construction sector. Future studies are recommended to examine the complex relationships between costs and benefits and to track dynamic changes in the C/B ratio over time. Full article