Modelling cost and qualities for understanding stakeholders expectations - Case Guayaquil - Equador

Understanding of stakeholder’s expectations is a key concept for successful new housing projects. Stakeholders are satisfied when their objectives are achieved and best value for invested money is provided. Over the last 15 years Guayaquil Municipality invested in major urban renewal projects. Nevertheless there is still a great necessity for better quality of housing and urban projects for low and medium income groups of the population. For those major projects collaboration between different stakeholders will be required in order to mobilize enough funds, including: public sector, private developers and housing end-users. A better understanding of stakeholder’s roles in this specific context is essential in order to achieve their expectations regarding urban and housing projects. The aim of this study is to develop a simulation tool that will help different stakeholders to achieve those expectations. The methodology used includes cost-quality evaluations, based on people’s preferences and willingness to pay for housing characteristics. This study examines how the balance between increased costs and better qualities could evolve to a win-win situation between different stakeholders. The paper concludes with implications of the study findings on increased quality of projects, long term profitability for developers and the provision of better and affordable housing units for the users.ISBN 978-90-902441-3status: publishe