Sustainable development valuable to society, environment, economy

Aside from the accumulation of wealth, the prosperity of any nation also depends on the preservation of the natural environment and the development of human resources to create an effective national workforce that contributes significantly towards building stable and integrated communities. That is why we should take into consideration the objectives of sustainable development when undertaking or implementing a project of any size or type. In addition to the conventional goals of any project, such as on-time completion while maintaining the required quality standards within the allocated cost and achieving the strategic objectives that benefit the project stakeholders, three other aspects – social, environmental and economic – should take priority in sustainable development. For instance, the social aspect of any project should focus on the issues related to the rights and safety of workers, the employment of national human capital, and the development of an efficient work force through professional trainings conducted per the latest methods and principles. It should also promote equal opportunities between men and women, fight against corruption, bribery and child labor, and deal with humanitarian and ethical issues. The environmental aspect, on the other hand, is primarily about efforts related to the rationalization of energy and water consumption. This incorporates sustainable environmental practices such as reducing carbon dioxide (CO2) emissions in the project by promoting clean and renewable energy, wastewater treatment, recycling, waste to energy methods, and the use of green and recyclable materials. Lastly, the economic objective of the project is not just limited to achieving a return on investment (RoI), but also focuses on promoting the role of the project in stimulating the local economy by creating new job opportunities for locals and boosting the growth of small and medium-sized enterprises (SMEs). To aid concerned bodies in launching projects that implement these goals in line with the best project management practices, a number of professional associations have established comprehensive ‘green’ project management standards and methods. Their focus is to associate the social, environmental and economic aspects with the 17 Sustainable Development Goals issued by the United Nations Development Program (UNDP) under their new agenda titled ‘Transforming Our World: The 2030 Agenda for Sustainable Development.’ This agenda aims to eradicate poverty, fight inequality and injustice, and address Climate Change by 2030. Several countries across the globe have been proactively transitioning their projects to accomplish the desired visions as well as contribute to the achievement of sustainable development goals. To further their efforts, they should adopt laws and policies to enable all government and private bodies to adopt the best practices in project management in a comprehensive and proper manner, taking into account the social, environmental and economic aspects of any development. * The writer is CEO of Collaboration, Management and Control Solutions