In a world where community needs are paramount, the innovative SEROI+ methodology emerges as a unique approach to optimising costs and resources. This strategy focuses on understanding community requirements and evaluating profits that transcend simple economic gains. Designed within the European ERUDITE project, SEROI+ encourages active stakeholder engagement, including citizens and businesses, ensuring a holistic evaluation of project outcomes beyond mere financial returns.
“Interventions are not only analysed from a financial, monetary point of view, but social and environmental values are also considered,” explains programme manager José Manuel San Emeterio. By integrating social and environmental dimensions, this methodology highlights the significance of creating lasting community impacts alongside economic benefits.
For example, take the Inishowen Innovation hub in Buncrana, County Donegal. José points out how this initiative will not only stimulate local economic activity but also reduce CO2 emissions by minimising commuting distances. Furthermore, it fosters community cohesion as families choose to stay local and support nearby businesses—expanding the project’s benefits beyond mere profit.
The ‘+’ in SEROI+ signifies ‘Open Innovation’, a key element of its approach. “We work with our stakeholders from the very beginning of the project,” says José. This collaborative effort involves consulting community members to identify their values and needs, ensuring the project aligns with the expectations and demands of the community it serves.
Overall, the SEROI+ framework empowers targeted interventions by allowing those impacted to dictate priorities and assess the success of initiatives, making it a true bottom-up strategy for community development.
SEROI+ is an innovative methodology designed to optimise resource use while addressing community needs beyond economic returns. Developed under the ERUDITE project, it engages stakeholders in decision-making to ensure a holistic evaluation. Examples, such as the Inishowen Innovation hub in Buncrana, illustrate its benefits that include social and environmental impacts. The ‘+’ represents ‘Open Innovation’, highlighting stakeholder collaboration from project inception.
The SEROI+ methodology offers a comprehensive framework for engaging communities and optimising resources. By valuing social and environmental impacts alongside financial outcomes, it fosters a more holistic approach to project evaluation. Through open innovation, stakeholders are actively involved from the start, allowing projects to better meet community needs and drive sustainable local development.
Original Source: www.euronews.com
