Economic Impacts | NineSquared | Economics Consulting

Elevate decision-making by integrating safety, health, wellbeing and other social impacts into your project assessments

Traditional project evaluation frameworks often focus heavily on financial metrics. However, many public and private sector projects deliver significant non-monetary benefits—such as improved safety, public health outcomes, and community wellbeing—that are just as critical to long-term success. NineSquared helps clients embed these considerations into their decision-making processes, ensuring that projects are assessed holistically and aligned with broader societal goals.

Estimate the dollar value of social impacts

Apply non-market valuation methods such as hedonic pricing, travel cost and stated preference methodologies to estimate a dollar value to social outcomes that are not usually priced.

Model nonmarket benefits using Cost Benefit Analysis

Incorporate qualitative and quantitative health and safety outcomes into CBAs using robust methodologies that align with Australian and international best practice.

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Develop prioritisation tools that reflect public values

Design investment prioritisation models that include safety and health as core criteria, ensuring projects with strong community support are not overlooked due to limited financial returns.

Use stakeholder-informed frameworks to guide decision-making

Engage with communities, experts, and policymakers to build evaluation frameworks that reflect lived experience and public expectations around safety and health and other non-market outcomes

Why incorporating non-monetary impacts into project evaluation is important

Incorporating non-monetary considerations like safety and health into project evaluation is essential for making decisions that serve the public interest. While traditional economic metrics such as cost savings and revenue generation are important, they often fail to capture the full value of outcomes that improve lives. For example, a transport upgrade that reduces road fatalities or a hospital expansion that improves patient outcomes may not show immediate financial returns, but their long-term social and economic benefits are substantial.

By integrating these considerations into evaluation frameworks, governments and organisations can make more informed, equitable, and transparent decisions. This approach also strengthens business cases, supports regulatory compliance, and builds public trust. NineSquared’s expertise in economic modelling, stakeholder engagement, and policy advisory ensures that safety and health impacts are not only recognised—but properly valued.