The countdown to the Construction Innovation Hub’s much anticipated Value Toolkit began in earnest today, with the launch of a new interactive digital resource to help clients navigate through the crucial steps involved in value-based decision-making.
The new resource outlines the step-by-step journey through the three core modules of the Toolkit: value definition, client & market approach and evaluation & measurement.
- The Value Definition module will facilitate a clear and consistent articulation of the value drivers which will underpin client decision-making;
- The Client & Market Approach module will enable optimisation of delivery models and commercial strategies to maximise value and outcomes; and,
- The Evaluation & Measurement module will help clients to develop a robust approach for evaluating options and measuring performance to support informed decision-making.
A collaboration between the Construction Innovation Hub and experts across industry and Government, the Value Toolkit is a new approach, digital tool and supporting guidance which will empower clients and policy makers to make outcome-led, better informed, value-based decisions.
Directly supporting the objectives set out in the CLC Roadmap to Recovery and the recently published Construction Playbook, the Toolkit will enable better decision-making throughout the whole investment lifecycle from business case through to procurement and delivery and operation, improving the outcomes of each investment
The final Value Toolkit will be launched in the Spring of 2021.
Construction Innovation Hub Programme Director Keith Waller said:
“The launch of this new digital resource is a crucial step in the development of our Value Toolkit – a key element of our programme funded through UKRI’s Transforming Construction Challenge. It takes us one step closer to the outcomes-focused approach mandated by Government in the new Construction Playbook launched yesterday and the industry’s own ambitions as laid out in the CLC Roadmap to Recovery.
A fundamental switch to value-based decision-making will require a manifest change in both our thinking and practices. By launching this digital interactive resource now, we want to ensure that when the Toolkit is formally launched in Spring of 2021, it can begin to deliver a positive impact as swiftly as possible.
The Value Toolkit is a shining example of what industry and Government can achieve by working together with a common purpose, even in the face of the many challenges we’ve seen this year.”
Rory Kennedy Director of Capital, Department for Education & Value Toolkit Project Board Chair said:
“The Value Toolkit will play a vital role in ensuring that Government departments, including DfE achieve optimal outcomes from their investments in schools, hospitals and other critical buildings and infrastructure. This uniquely collaborative programme is a prime example of what can be achieved when Government and industry work in partnership to drive innovation and change”.
CLICK HERE to access the Value Toolkit interactive resource
Notes to editor:
Key industry and Government partners supporting the development of the Value Toolkit are as follows:
- Ann Bentley is leading on the Value Definition element of the Toolkit (in support of the sector deal ask for a consistent definition of value), drawing on the expertise contained within the CLC’s procuring for Value working group and building a consensus based approach via a Relevant Authorities model (i.e. groups of subject matter experts headed by key industry organisations – one for each capital);
- The Association for Consultancy and Engineering (ACE) has assembled a team of industry experts together to lead work on delivery models, commercial strategies;
- Constructing Excellence (CE) is drawing on its extensive membership to engage with the supply chain (consultants, contractor and manufacturers) to understand levels of capability and to identify and address key barriers to the adoption of value-based approaches;
- The Civil Engineering Contractors Association (CECA) is working directly with the Hub to address skills and training needs required to bring clients and industry on the journey and helping us plot a path to widespread adoption; and,
- The Infrastructure and Projects Authority (IPA) is leading a client advisory group of key public (TIP+MHCLG) and private clients to ensure we create something that is implementable and which aligns with and enhances (on the public side) existing procurement policy (green book rules) and decision-making processes.
- Relevant Authorities are chaired by key industry organisations who perform the role of custodians for each capital. The relevant authorities have responsibility for selecting and refining the metrics, measures and scoring profiles for each value category, working directly with input from clients/asset classes. The Hub’s dedicated team will embed the outputs of the RA’s into the methodology and tool. In the longer term, RA’s will also be responsible for benchmarking and analysis of submitted data.
- The Relevant Authorities are: RICS, RIBA, CIOB and Social Value UK.