Smart City Project Value Creation

van Winden et al. (2016) found that Smart City initiatives often forget to include the impact measurement of the project. It is often missed neither in the planning steps nor the end of the project. It is most likely that there is no attempt in quantifying the yield or value of the project, despite the benefit that clear definition of the value that is being created through the project can help build the commitment of the involved stakeholders in working towards a common goal. This is essential at the start of the project but can also benefit from re-evaluation at pivot points throughout the life cycle of the project. The added value of the project can be assessed in economic, social and environmental terms. Measuring and quantifying value is extremely difficult though, and smart city projects could benefit from a more qualitative approach when quantification is not possible. A failing smart city project can also generate value by creating new knowledge or an establishment or strengthening of a partnership. So even a project that at first sight seems to have failed, can prove to be very valuable because of unexpected side effects or because the project showed that, for example, a smart city technology is not feasible in a particular context.

Reference:

van Winden, W., Oskam, I., van den Buuse, D., Schrama, W., & van Dijck, E-J. (2016). Organising smart city projects: lessons from Amsterdam. Hogeschool van Amsterdam.

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