Evaluating the Integration of Economic Feasibility and Economic Sustainability in Innovative Practices: A Study on Target Costing Methodology and Economic Considerations

Abstract

The primary aim of this research is to explore the integration of economic feasibility and environmental sustainability within infrastructure projects, focusing on the target costing methodology. The study investigates the practical applications of this methodology, particularly its role in promoting cost efficiency and sustainability in construction projects.

The research uses a hybrid approach involving both theoretical analysis and case studies. It evaluates the effectiveness of the target costing methodology by analyzing its impact on both economic and environmental goals in real-world infrastructure projects, with a particular focus on projects within Muthanna Governorate, Iraq. The methodology includes data collection through surveys and interviews with stakeholders involved in project planning and execution.

Key findings from the research reveal that while target costing is seen as a useful tool for managing economic feasibility, its contribution to environmental sustainability is perceived as neutral. The study also emphasizes the importance of integrating ethical values into the decision-making process, with a focus on enhancing transparency and fairness. Despite some challenges, the integration of economic and environmental considerations within target costing is crucial for improving the overall performance of infrastructure projects.

The study concludes by recommending further refinement in the target costing methodology to better address the complexities of balancing economic and environmental goals, as well as a greater emphasis on ethical values in project decision-making.