IDEAS home Printed from https://ideas.repec.org/p/ags/uwauwp/156482.html
   My bibliography  Save this paper

Ranking Environmental Projects

Author

Listed:
  • Pannell, David J.

Abstract

Environmental agencies and organisations face the challenge of deciding which of the many possible environmental projects they should support with their limited resources. Projects vary greatly in environmental benefits and costs, so selecting the best projects can make a major difference to the level of environmental benefits that can be generated for a given budget. Key principles for ranking environmental projects are presented and explained. A suitable formula to use as a metric for ranking projects is developed and explained. The formula accounts for environmental values, the effectiveness of management, time lags, behaviour change, various risks and various costs. The suggested formula includes a number of appropriate simplifications. A number of common mistakes to avoid are outlined.

Suggested Citation

  • Pannell, David J., 2013. "Ranking Environmental Projects," Working Papers 156482, University of Western Australia, School of Agricultural and Resource Economics.
    • Handle: RePEc:ags:uwauwp:156482
    DOI: 10.22004/ag.econ.156482
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/156482/files/RankingEnv2013.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.156482?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. David J. Pannell, 1997. "Sensitivity analysis of normative economic models: theoretical framework and practical strategies," Agricultural Economics, International Association of Agricultural Economists, vol. 16(2), pages 139-152, May.
    2. Glenn Jenkins & Chun-Yan Kuo & Arnold C. Harberger, 2011. "Cost-Benefit Analysis for Investment Decisions: Chapter 4 (Discounting and Alternative Investment Criteria)," Development Discussion Papers 2011-04, JDI Executive Programs.
    3. Roberts, Anna M. & Pannell, David J. & Doole, Graeme & Vigiak, Olga, 2012. "Agricultural land management strategies to reduce phosphorus loads in the Gippsland Lakes, Australia," Agricultural Systems, Elsevier, vol. 106(1), pages 11-22.
    4. Pannell, David J. & Roberts, Anna M., 2010. "Australia’s National Action Plan for Salinity and Water Quality: a retrospective assessment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), pages 1-20.
    5. Pannell, David J. & Gibson, Fiona L., 2014. "Testing metrics to prioritise environmental projects," Working Papers 163211, University of Western Australia, School of Agricultural and Resource Economics.
    6. Stefan Hajkowicz & Andrew Higgins & Kristen Williams & Daniel P. Faith & Michael Burton, 2007. "Optimisation and the selection of conservation contracts," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(1), pages 39-56, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. 259 – Increasing environmental benefits
      by David Pannell in Pannell Discussions on 2013-12-02 21:00:50
    2. 262 – Environmental triage
      by David Pannell in Pannell Discussions on 2014-03-17 20:00:04
    3. 263 – The EQ Index
      by David Pannell in Pannell Discussions on 2014-04-07 20:00:16
    4. 272 – Additionality
      by David Pannell in Pannell Discussions on 2014-09-29 20:00:44
    5. 279 – Garbage in, garbage out?
      by David Pannell in Pannell Discussions on 2015-03-11 20:00:26
    6. 325 – Ranking projects based on cost-effectiveness
      by David Pannell in Pannell Discussions on 2019-09-16 15:45:42

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pannell, David J. & Gibson, Fiona L., 2014. "Testing metrics to prioritise environmental projects," Working Papers 163211, University of Western Australia, School of Agricultural and Resource Economics.
    2. Baker, Rick & Ruting, Brad, 2014. "Environmental Policy Analysis: A Guide to Non‑Market Valuation," 2014 Conference (58th), February 4-7, 2014, Port Macquarie, Australia 165810, Australian Agricultural and Resource Economics Society.
    3. Kompas, Tom & Chu, Long & Ha, Pham Van & Spring, Daniel, 2019. "Budgeting and portfolio allocation for biosecurity measures," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(3), July.
    4. Rolfe, John & Windle, Jill, 2016. "Estimating supply functions for agri-environmental schemes: Water quality and the Great Barrier Reef," 2016 Conference (60th), February 2-5, 2016, Canberra, Australia 235510, Australian Agricultural and Resource Economics Society.
    5. Rolfe, John & Whitten, Stuart & Windle, Jill, 2017. "The Australian experience in using tenders for conservation," Land Use Policy, Elsevier, vol. 63(C), pages 611-620.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jackson, N. & Walter, M. & Felmingham, B. & Spinaze, A., 2006. "Will Older Workers Change Their Retirement Plans in Line with Government Thinking? A Review of Recent Literature on Retirement Intentions," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 32(4), pages 315-344.
    2. Walstab, Anne & Lamb, Stephen, 2009. "Participation in VET across Australia: a regional analysis," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 35(2), pages 452-487.
    3. Robbins, W., 2010. "Learning with Hard Labour: University Students as Workers," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 36(1), pages 103-120.
    4. Tan, Yan & Lester, Laurence Howard & Richardson, Susan (Sue), 2008. "Labour Force Projections: A Case Study of the Greater Metropolitan Area of New South Wales," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 34(1), pages 79-99.
    5. Guthrie, R. & Purse, Kevin & Lurie, P., 2006. "Workers' Compensation Western Australia; a Case Study 1993 - 2004," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 32(1), pages 62-73.
    6. Peetz, D. & Muurlink, O. & Townsend, K. & Allan, C. & Fox, A., 2011. "Quality and Quantity in Work-Home Conflict: The Nature and Direction of Effects of Work on Employees' Personal Relationships and Partners," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 37(2), pages 138-163.
    7. Emile Noël, 1996. "Quelques réflexions sur les perspectives politico-institutionnelles de l'intégration européenne en 2000 et au-delà," EUI-RSCAS Working Papers 39, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    8. Karin Fierke & Antje Wiener, 1999. "Constructing Institutional Interests: EU and NATO Enlargement," EUI-RSCAS Working Papers 14, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    9. Leslie Holmes, 1997. "The Democratic State or State Democracy? Problems of Post-Communist Transition," EUI-RSCAS Working Papers 48, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    10. Skinner, N & Pocock, Barbara, 2010. "Work, Life, Flexibility and Workplace Culture in Australia: Results of the 2009 Australian Work and Life Index (AWALI) Survey," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 36(2), pages 133-153.
    11. Burgess, J. & Lewer, J. & Waring, P., 2006. "Protecting Employee Entitlements: Corporate Governance and Industrial Democracy in Australia," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 32(4), pages 365-380.
    12. Rodriguez Iglesias, 1996. "Le pouvoir judiciaire de la Communauté européenne au stade actuel de l'évolution de l'Union," EUI-RSCAS Working Papers 41, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    13. Tani, Massimiliano, 2012. "Does immigration policy affect the education--occupation mismatch? Evidence from Australia," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 38(2), pages 111-141.
    14. Wooden, M., 2010. "Symposium 3: An Unfair Safety Net," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 36(3), pages 321-326.
    15. Liesbet Hooghe, 1998. "Supranational Activists or Intergovernmental Agents? Explaining the Orientation of Senior Commission Officals Towards European Integration," EUI-RSCAS Working Papers 36, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    16. Thomas Christiansen, 1997. "Legitimacy Dilemmas of Supranational Governance: The European Commission between Accountability and Independence," EUI-RSCAS Working Papers 74, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    17. Flavel, J., 2007. "The Aged Care Workforce: Methods to Increase Supply to Remedy Possible Shortages," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 33(1), pages 106-128.
    18. Harper, I. & McKibbin, R., 2010. "Symposium 2: Minimum Wage Setting under Fair Work Australia: Back to the Future?," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 36(3), pages 314-320.
    19. Tommaso Padoa-Schioppa, 1996. "The Genesis of EMU: A Retrospective View," EUI-RSCAS Working Papers 40, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
    20. Doessel, D. & Williams, R., 2011. "The 'Rise and Rise' of New Professional Groups: Mental Health Professions under Medicare," Australian Bulletin of Labour, National Institute of Labour Studies, vol. 37(1), pages 97-126.

    More about this item

    Keywords

    Environmental Economics and Policy;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uwauwp:156482. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aruwaau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.