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Co-Creating Value

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As projects move toward a sustainability focus, stakeholder engagement is shifting from compliance and risk mitigation to looking for opportunities that create positive relationships that can uncover the project's potential to co-create value for both the organization and local communities. This has been named “Creating Shared Value” by Porter and Kramer.4

Opportunities for collaborating and co-creating value can be evaluated by answering a number of initial questions aimed at understanding both the planned or current project impacts and the potential for value creation, but also the potential for new activities that can create shared value that neither player could achieve on their own. These questions are:

1 What impact(s) does the project and its activities have on each element of the society?

2 What impacts could we change or improve if we changed how the project was delivered?

3 What impacts could the element of society have on the project?

4 What benefits could we co-create if we work together to address impacts and challenges?

The initial questions are intended as only a first step. True co-creation cannot be achieved by one side of the relationship acting alone. It requires ongoing dialogue and interaction to create understanding and new ideas.

One model for co-creating value is the DART model,5 which we have adapted from a business model for working in developing economies. DART, which stands for Dialogue, Access, Risk Assessment, and Trust/Transparency, suggests that you need to focus on the four elements to fundamentally change the traditional relationship between the project and the local community, as shown in the sidebar.

Integrating Sustainability Into Major Projects

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