DURING 2011 and 2012 , FOUR PORT PHILLIP BAY MUNICIPALITIES WERE
INVOLVED IN A PIECE OF APPLIED RESEARCH TO FIND OUT IF ECONOMIC MODELLING
CAN HELP DECISION MAKING IN RESPONSE TO COASTAL FLOODING.
THE ANSWER IS YES
.
COST BENEFIT ANALYSIS CAN INDEED HELP DECISION-MAKERS DETERMINE WHAT RESPONSES ARE
APPROPRIATE AND WHEN BEST TO IMPLEMENT SPECIFIC
WORKS.
WORKS.
But the project equally found that, without the correct inputs, the results would be less robust.
One of the major learnings to emerge from the research is that it is limited value looking at a small,
specific area of a single municipality in isolation from the region or, at least, the waterways catchment in question.
FLOOD WATERS DON'T RESPECT ARBITRARY LINES ON MAPS. AND DAMAGE AND ECONOMIC BENEFITS
NEED TO BE ANALYSED WITHIN A WIDER CONTEXT OF REGIONAL, STATE AND EVEN NATIONAL ECONOMIES.
While this website celebrates the achievement of a "road-tested" series of economic modelling tools, please understand that the formulas need far better inputs before we can truly claim meaningful results.
PROJECT MANAGERS
PARTICIPATING PARTNERS
PARTNERS
FUNDED BY
