Economic Impact Model
Development WA | 2018
Services
- Economic Impact Assessment
- Employment Impact Assessment
- Impact Measurement Model Development
Scope
Development WA (formerly LandCorp) required a clear and consistent method for estimating the impact of past, current and future projects. Pracsys was engaged to develop a model that could estimate the economic benefits generated through Development WA’s activities and operations.
Approach
We began designing our economic impact model by collecting multiple datasets from Development WA , including 20 project case studies that reflected Development WA’s typical activity. We developed a list of economic impact measures and created a set of benchmarks for application in the model based on a combination of Development WA data and a range of secondary sources. We then developed the model in excel to allow for ongoing estimation of project economic impacts by the Development WA team.
Outcome
The creation of the model was successful and aligned with Development WA’s expectations. The model is now used to assist in the preparation of marketing and communication material, and high-level internal and external business cases.
