Lifecycle externalities for business decision making within the built environment

Externality is either an indirect cost or indirect benefit that is caused by one party but financially incurred or received by another. Externalities can be negative or positive. A negative externality is the indirect imposition of a cost by one party onto another. A positive externality, on the other hand, is when one party receives an indirect benefit as a result of actions taken by another. For a successful business model, direct and indirect benefits and costs must be established to derive a positive business case (e.g. based on benefit over cost ratio) throughout the lifecycle. This presentation will discuss new lifecycle multiple viewpoint insights into the stakeholders’ challenges, consumers’ value chain, business processes and externalities within the built environment. The insights will enable the policies to implement a common multi-view lifecycle framework to support decision-making for all stakeholders and consumers across different stages throughout the whole life cycle.