While wages and investment have tended to stagnate in recent years, costs sure haven’t — and the price tag on every piece of our lives has crept steadily higher.

Most of us have already seen the evidence on a personal and professional level, and it would be easy enough to dig through the receipt drawer and see how the cost of living, of doing business, and of reacting to unforeseen risks has ticked upward on a disconcertingly rapid timeline.

But what if we could quantify and mitigate these costs ahead of time, before they spiral out of control? What if WSP Smart™ could share solutions that we can implement today, at a reasonable cost, that could save us tens of thousands of dollars in project and household costs tomorrow?

In Costing the Chasm, an innovative research series from WSP, you will discover the projected price tags on future trends like climate change, infrastructure investment, societal shifts and technological advancement. The four-part series will guide you through how these trends will impact your household costs, your business projects, your local community’s services and infrastructure, your budget barriers, and more. It will present innovative, cost-effective solutions to offset these looming budget risks, and help you become Future Ready® for a smarter lifestyle, smarter projects, and smarter cities.

The Price of Unprepared

In the next 10 years alone, disruptive trends in climate, resources, society and technology are projected to cost Canadians an extra $25,000 per household, per year. How can we act now to mitigate these impacts — and lower the price tag on disruptive change?

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Buy Local, Build Resilience

The benefits of buying local are well understood when it comes to food, goods and services. But what about the invisible assets that we use every day: our infrastructure? Infrastructure investment represents significant spending from all three levels of government — but how can we maximize the impact of those funds to build more resilient local economies?

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Deconstructing Project Costs

Over the coming decades, construction projects will likely represent an ever-growing proportion of our spending. These projects are already pricey, accounting for $1.3 trillion in spending in 2019 alone. What happens to that price tag when the number of projects climbs, in tandem with their individual costs? And how can smart solutions both mitigate and prevent sticker shock?

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The Behaviour Barrier

In theory, it’s easy to understand the old adage that “prevention is the best cure.” But when prevention has an immediate price tag, most people and organizations have a psychological tendency to defer investment — even if it means paying much more later on. What are the behavioural barriers that deter us from implementing Smart solutions today, and how can we break down those barriers?

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