Sustainability Analysis of a Large-Scale Project in East London
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This article analyzes the sustainability of a large-scale project in East London, covering social, economic, and environmental sustainability factors. It discusses the benefits and disadvantages of the project and provides recommendations for minimizing negative impacts.
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Running Head: PROFESSIONAL AND CORPORATE STUDIES Professional and Corporate Studies Name of the Student Name of the University
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1PROFESSIONAL AND CORPORATE STUDIES Table of Contents Introduction and Background of the Project....................................................................................2 Social Sustainability Benefits and Disadvantages of the Project....................................................2 Economic Sustainability Benefits and Disadvantages of the Project..............................................4 Environmental Sustainability Benefits and Disadvantages of the Project.......................................6 Summary and Conclusion................................................................................................................7 References......................................................................................................................................10
2PROFESSIONAL AND CORPORATE STUDIES Introduction and Background of the Project Any major project has several sustainability factors that help to realize the actual benefits of the same. The target of any project is to achieve the benefits to the maximum extent possible by fulfilling the sustainability requirements (Carvalho and Rabechini 2017). On the downside, all projects may not have all benefits and have some disadvantages that negatively impact the sustainability factors that are the major determining factors of project success. Hence, it is important to identify the benefits and disadvantages of a project in terms of its sustainability requirements. In this project, a 4.7 million square feet area of land in East of London will be converted into a businessdistrictand for thispurpose, £1.7 billion hasbeen invested. Using this investment, the entire district will grow up as residential buildings, commercial and office buildings, roadways and others will be built and connected to the main city. This particular project will develop the third business district of London and aims to redevelop the locality of this particular area in addition to the construction of new buildings and facilities. In spite of being business district, the area will also include residential and green zones where people from other parts of the city can relocate too. Due to the construction of the new commercial buildings, there will also be new job opportunities as business organizations should invest in setting up new offices in this area thus helping the growth of economy in the area. Social Sustainability Benefits and Disadvantages of the Project The project aims to develop a new business and financial district in Royal Albert Dockland, East London. In this project, in addition to office buildings and commercial retail
3PROFESSIONAL AND CORPORATE STUDIES properties, various residential zones will also be set up where residents will be able to live. This will benefit the residents who will work in the offices in this particular district will have convenience in terms of transport and travelling time. The social sustainability benefits for this project are listed and described as follows. New Residential Zone– Due to constant increase in population, London is getting cramped up in terms of residential space. As a result, many residents are trying to move out to some place in the outskirts of the city where there is less population crunch (Aarseth et al. 2017). With the development of the new business and financial district, there will be sufficient space for many residents who can shift from the populated areas in London to this new location. Furthermore, with the upgradation of the transportation system, these residents will continue to have proper access to their work places as well as the main parts of the city. Quality of Life– As is the case with most of new developing zones, special emphasize is provided to enhance the quality of lives of the new residents. In order to attract more residents to move out of the main part of the city, some amenities must be provided that are not very much common in the existing parts (Marcelino-Sádaba, González-Jaen and Pérez-Ezcurdia 2015). For example, in order to attract people living in regular residential flats in a cramped part of the city, most of the construction companies build houses with various features like swimming pool, tennis court, community halls and others so that the people are attracted to shift there. Along with the amenities, the quality of life of the residents also increases considerably until again the population crunch occurs. Work– Another major factor that increases social sustainability is work opportunity in a particular region (Sánchez 2015). Residents will never move to a place that is far from their
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4PROFESSIONAL AND CORPORATE STUDIES homes or where there are no job opportunities. Hence, it is important to set up commercial and banking sectors around the new residential areas. The social sustainability disadvantages of the project are discussed as follows. Overpopulation– In addition to the rest of the city, East London is also rapidly growing up as more and more UK citizens from various parts of the country as well as thousands of foreigners are setting in London due to high quality of education, job opportunities, amenities and others. As a result, it is feared that in spite of the project, the new district will again face population cramp within the next 5 to 10 years thus repeating the social problem in the city. Economic Sustainability Benefits and Disadvantages of the Project While conducting a large scale project, it is important to ensure the project will have sufficient economic sustainability or else, it will fail. Hence, for this particular project, the economic sustainability benefits are analyzed, listed and discussed as follows. Commercial Economy– The main target of the project is to set up a business and financial district and hence, commerce will be an integral part of the region. During this project, a number of office and commercial buildings will be set up and sold to multinational business organizations who are willing to open new branches in East London (Silvius and Schipper 2014). Some other buildings and commercial properties will be rented out to other medium and small commercial organizations and will be source of constant income. Thus the costs of the project will be recovered and the economic sustainability of the project will be enhanced. In addition to the existing organizations, if the commercial set up of the region grows within the next few years, further investment from other companies may be earned in the near future.
5PROFESSIONAL AND CORPORATE STUDIES Employment–Thegrowthofnewcommercialsectorwillalsocreatemorejob opportunities for people who will slowly start to move in to the new district (Tukkeret al.2017). This will also boost the economy of the district as with increasing employments in the commercialorganizationsaswithincreasingworkforce,thecommercialoutputofthe organizations will also increase significantly. However, it is to be noted that economic sustainability is not only about economic growth. It is also equally important to sustain and maintain the growth of the economy rather than just emphasize on the growth itself. For instance, after appointing 100 new employees, a business organization may estimate an economic growth but if 50 of these new employees leave the organization stating adverse situations like low salary, improper shift timings and policies and others, the economic growth will not be sustained (Martens and Carvalho 2017). Hence, in spiteofconductingthenewlargescaleproject,itistobeseenwhetherthebusiness organizations are seizing the opportunity for promoting the economic sustainability of the city or just seeking profit in their business. The economic sustainability disadvantages are discussed below. Transport Access– In this particular project regarding the development of the new business district, the exact location may be far from the central city and there may not be sufficient transport link with the main city. As a result, people not prefer to visit this new district for work purposes (daily passengers). This will hinder the economic growth of the new district and thus economic sustainability may not be achieved. Unpopular Area– In spite of setting up residential and commercial areas in the district, the entire Eastern London region may not be popular among the people. Hence, these people will
6PROFESSIONAL AND CORPORATE STUDIES not prefer to travel to these unpopular parts and thus, economic sustainability will not be achieved. Lack of Investment– While the economic sustainability is estimated using the possible amount of investment that will be available after the district development is complete. However, in the actual case scenario, many large companies may not actually invest in the district citing several reasons like high cost of land, uncertainty over employment and market, poor transport facilities and others. If there is not sufficient investment in the new district, the project will fail as there will not be any economic growth of the district. Environmental Sustainability Benefits and Disadvantages of the Project In addition to social and economic sustainability, there must also be considerations for environmental sustainability of the project. The benefits of environmental sustainability of the project are discussed as follows. Restructuring of the Ecosystem– With any new township or district and construction of commercial and residential zones, there are generally plans for development of green zones where there are opportunities for the development of new ecosystem (Brones, de Carvalho and de Senzi Zancul 2014). In these green zones, there are several green areas developed along with lakes and clean grounds where people can relax. Furthermore, these green zones also promote the animal lives and hence, ecosystem can be conserved in these areas. Prevention of Congestion in the Main City– The main idea behind the construction of the new commercial district is to reduce the excessive congestion and population overload on the main city (Jacobs, Chase and Lummus 2014). With the relocation of a large number of people
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7PROFESSIONAL AND CORPORATE STUDIES and traffic from the main city to the new area, the congestion will be much reduced around the central part and as a result, the continuing damage to the local ecosystem will decrease considerably. However,therearemoredisadvantagesthanbenefitsinthisprojectintermsof environmental sustainability. The main disadvantages are listed below. Destruction of the Local Ecosystem– The district will be developed over a huge area of land (4.7 million square feet) that also covers a huge local ecosystem. During the development of the district, the entire ecosystem will be destroyed as thousands of trees will be cut down and the animals living in the area will be driven out (Brook and Pagnanelli 2014). Even if there is plan to develop green zones at different locations in the district, the original ecosystem cannot be restored once it is destroyed completely. Pollution– During and after the project, the pollution of the district and its surrounding regions will also increase considerably. During the construction buildings, there will be severe problems of sound, vibration, fly ash, dust, smoke and others. These will create severe pollution in the district thus disturbing the lives of animals and the people living in the surroundings (Sievers 2018). In addition, the pollution will contribute to the global population problem that is constantly increasing day by day. Even after the construction and development of the district is complete, the residual materials and dust deposited during construction activities will remain for some time before being relocated to some other area. Traffic will also be added in the area thus increasing the pollution in the area. Another area of concern is that once an expansion plan is complete, there are generally plans for even further expansion (Doppelt 2017). This is more common for the large cities as the city continues to grow at a rapid pace. These expansions will
8PROFESSIONAL AND CORPORATE STUDIES continue to destroy various local ecosystems on the way and hence, there will be massive negative impacts on the environment. Summary and Conclusion This particular project aims to develop a new business and financial district in Royal Albert Dockland in East of London. This project will cover around 4.7 million square feet land area and will also require a budget of initial £1.7 billion. The project will include construction of residential areas, office and commercial buildings, retail spaces and other facilities. In addition, the existing facilities like footpath, cycling paths, electricity and others will also be upgraded along with the new developments. However, before proceeding with the project, there are certain factors that have to be considered. These factors are mainly the benefits and disadvantages of the various sustainability options i.e. society, economy and environment. It has been found during the analysis that the project will have both sustainability benefits and disadvantages. As a part of the social sustainability benefits, the new residential zones will allow more people to move in and reduce the population explosion in the central part of London city. On the other hand, lack of transport and connectivity of this location with the main city will also discourage people to move in to the new district. Again, economic sustainability can be established by setting up various business organizations and offering employment to people while it is pulled back forward by the possibility of lack of investment by major firms due to various reasons. Hence, before executing the project, the negative impacts and disadvantages must be considered and there should be sufficient preparations to face the implications of the disadvantages. In this entire discussion, the various type of sustainability benefits and disadvantages of the given project have been analyzed. The three different parts are based on three completely
9PROFESSIONAL AND CORPORATE STUDIES different aspects – society, economy and environment. Moreover, the benefits and disadvantages that have been discussed are also quite different from each other. However, each of them are interrelated and hence, the factors related to one impact factors of others significantly. For instance, due to the pollution problem discussed in environmental sustainability, there will be strong negative impact on the society as well, which in turn result in negative impact on the economic sustainability. Hence, it will not be very wise to exclude the effects of one aspect while ignoring the others. During conducting sustainability test of the project, it will be important to consider all the related factors and issues that will benefit or negatively impact the project. From the analysis, it has also been seen that there are significant negative impacts and disadvantages of the project on each of the sustainability factors that cannot be avoided at any cost. On the other hand, the project is extremely important as it is one of the major plans of London City Expansion. Hence, care should be taken to minimize the impact of the project on the society, economy and environment so that the benefits can be enjoyed as much as possible.
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10PROFESSIONAL AND CORPORATE STUDIES References Aarseth, W., Ahola, T., Aaltonen, K., Økland, A. and Andersen, B., 2017. Project sustainability strategies: A systematic literature review.International Journal of Project Management,35(6), pp.1071-1083. Baumgartner, R.J. and Rauter, R., 2017. Strategic perspectives of corporate sustainability management to develop a sustainable organization.Journal of Cleaner Production,140, pp.81- 92. Brones, F., de Carvalho, M.M. and de Senzi Zancul, E., 2014. Ecodesign in project management: a missing link for the integration of sustainability in product development?.Journal of Cleaner Production,80, pp.106-118. Brook, J.W. and Pagnanelli, F., 2014. Integrating sustainability into innovation project portfolio management–A strategic perspective.Journal of Engineering and Technology Management,34, pp.46-62. Carvalho, M.M. and Rabechini, R., 2017. Can project sustainability management impact project success? An empirical study applying a contingent approach.International Journal of Project Management,35(6), pp.1120-1132. Doppelt, B., 2017.Leading change toward sustainability: A change-management guide for business, government and civil society. Routledge.
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12PROFESSIONAL AND CORPORATE STUDIES Schaltegger, S., Burritt, R. and Petersen, H., 2017.An introduction to corporate environmental management: Striving for sustainability. Routledge. Sievers, A., 2018. Selecting sustainability management tools for medium sized companies: Development of a structured method for companies in the retail and energy industrial sectors. Silvius, A.J. and Schipper, R.P., 2014. Sustainability in project management: A literature review and impact analysis.Social Business,4(1), pp.63-96. Stacchezzini, R., Melloni, G. and Lai, A., 2016. Sustainability management and reporting: the role of integrated reporting for communicating corporate sustainability management.Journal of Cleaner Production,136, pp.102-110. Tukker, A., Charter, M., Vezzoli, C., Stø, E. and Andersen, M.M. eds., 2017.System innovation for sustainability 1: Perspectives on radical changes to sustainable consumption and production. Routledge. Walker, A., 2015.Project management in construction. John Wiley & Sons.