New approach maximizes project value and incentives for upfront spending.
Construction projects involve making decisions about costs and benefits. Traditional methods of evaluating investments don't capture the full value of a project. This paper introduces a new approach where decision-makers assign value to different project elements and stakeholders over time. By identifying and valuing accrued benefits, project owners can make better decisions and potentially earn more. This method can be used at any stage of a project's life cycle and provides a more detailed assessment of a project's value. It also helps with facilities management and design decisions, ultimately aiming to improve overall project performance.