Here is an interesting article on quantifying ecological functions. The main application appears to be wetland mitigation but the theory seems more general and could maybe be adapted to a variety of ecosystem restorations or creations.
Mitigation and offset programs designed to compensate for ecosystem function losses due to development must balance losses from affected ecosystems and gains in restored ecosystems. Aggregation rules applied to ecosystem functions to assess site equivalence are based on implicit assumptions about the substitutability of functions among sites and can profoundly influence the distribution of restored ecosystem functions on the landscape. We investigated the consequences of rules applied to aggregation of ecosystem functions for wetland offsets in the Beaverhill watershed in Alberta, Canada. We considered the fate of 3 ecosystem functions: hydrology, water purification, and biodiversity. We set up an affect-and-offset algorithm to simulate the effect of aggregation rules on ecosystem function for wetland offsets. Cobenefits and trade-offs among functions and the constraints posed by the quantity and quality of restorable sites resulted in a redistribution of functions between affected and offset wetlands. Hydrology and water-purification functions were positively correlated and negatively correlated with biodiversity function. Weighted-average rules did not replace functions in proportion to their weights. Rules prioritizing biodiversity function led to more monofunctional wetlands and landscapes. The minimum rule, for which the wetland score was equal to the worst performing function, promoted multifunctional wetlands and landscapes. The maximum rule, for which the wetland score was equal to the best performing function, promoted monofunctional wetlands and multifunctional landscapes. Because of implicit trade-offs among ecosystem functions, no-net-loss objectives for multiple functions should be constructed within a landscape context. Based on our results, we suggest criteria for the design of aggregation rules for no net loss of ecosystem functions within a landscape context include the concepts of substitutability, cobenefits and trade-offs, landscape constraints, heterogeneity, and the precautionary principle.