Value-based Decision for Highest and Best Use

This paper presents how highest and best use (HBU) concept can be applied for value-based decision making. HBU is a technique to analyze and select the best use of land to get maximum productivity. Analytical Hierarchy Process (AHP) is applied to develop process of decision making by determine the preferences and best fit option. The criteria are based on the concept of HBU which are legal, physical, finance, and also productivity. The best alternative is obtained from calculation of Satisficing game. It is formed by comparing function to cost. The functions are derived from HBU criteria and the cost is estimated from two drivers that are initial cost and life cycle cost. This paper is focused on the practice of selecting best use for a traditional market land. Using satisficing option for value-based decision allows to form an algorithm of group decision among stakeholders for future research recommendation.