I would say it is similar to the Environmental Impact Assessment, just the focus is different, where impact on social is the main emphasis in socio-cultural impact assessment. Regarding the strategy for carrying out such assessment, it depends on whether it is being assessed quantitatively or qualitative. The famous cost-and benefit analysis is a purely quantitative way of assessing social impact. However, since not all impact could be measured with price tag, a combination of both quantitative and qualitative approaches are being utilized.

I think that you can make a household survey to collect the information needed for your research about the socio-economic characteristics of the community to analyze the variables that you think will have a significant effect on the live of this community.

From the fist step you can choose the best indicators which you are going to measure, and see what is the impact of infrastructural expansions and development initiatives on a certain community.

You can collect the policy issue through an individual meetings with the stakeholders of that community.

Thanks Chee Foo and Masnat Hiary for your inputs.

The world improves each day with improvements in knowledge and expertise.

We therefore make use of others' experiences to refocus our inquiries.

I welcome further contributions.

A late contribution to the discussion...

The best is multi-stakeholder engagement, including meaningful public engagement to make sure development/construction projects will not destroy local communities, environments or livelihoods. I agree with all above comments. 

A good strategy relies on the implementation of good tools. In terms of public engagement and multi-stakeholder collaboration, there are many online and offline tools that can support socio-cultural assessments: design charrettes, urban walks, online mapping surveys (e..g through apps), online video games like Block by Block, online hybrid project portals like MetroQuest, etc. 

Nice Dear Masnat Al Hiary