The Construction Innovation Hub has produced a new ‘Value Toolkit’ initiative with the intention to shift the construction industry towards value-based decision making.
The Construction Innovation Hub, a Government-backed R&D programme, is working with Government and leading industry bodies to develop the new ‘Value Toolkit’ to help policy makers and clients make faster, informed decisions which incentivise industry to respond with innovative, high value solutions.
The Toolkit will support better decision-making throughout the whole investment lifecycle from business case through to procurement and delivery and operation, improving overall sector performance consistent with key policy objectives such as driving Modern Methods of Construction (MMC), delivering social impact and accelerating the path towards Net Zero.
The Toolkit was announced as part of UK Research and Innovation’s Future of Building Week, the new Toolkit contains a suite of tools in four linked modules which will:
- Support policy makers, clients and advisors in defining the unique value profile for a given project and create value indices through which informed decisions can be made;
- Help clients and their advisers to select a delivery model and commercial strategy, and industry to develop business models, that best meet the value drivers of the project;
- Build on the groundwork laid by Ann Bentley and the Construction Leadership Council Procuring for Value Working Group and the IPA’s Transforming Infrastructure Performance to allow clients make procurement decisions based on the value drivers of the project and industry to shape their offers accordingly; and,
- Continuously forecast and measure value performance throughout delivery and operation, helping clients and industry to maximise value on each project and using performance data to help policy makers shape decisions on future projects.
Minister for Business and Industry, Nadhim Zahawi MP said: “This brilliant new initiative reflects the Government’s desire to ensure we embrace a construction procurement process that has clean, green innovation at its heart.
“It complements our commitment to boost the productivity of this vital industry as part of our economic recovery. I look forward to working with the Construction Innovation Hub and Construction Leadership Council to realise this ambition.”
Keith Waller, the Construction Innovation Hub Programme Director, said: “By abandoning, once and for all, our sector’s historic affinity with cheapness and embracing a new model where delivering value drives our decision-making, we can ensure that UK construction is actively supporting the path to Net Zero, boosting productivity, delivering safe, higher quality buildings, improve social impact, supporting regeneration, levelling up and much more.
“As well as making better decisions, our Toolkit will ensure we make them faster, ensuring industry can deliver on the Government’s vital ‘Project Speed’ ambitions to stimulate our economy.”
The Construction Innovation Hub was launched in November 2018 and brings together world-class expertise from the Manufacturing Technology Centre (MTC), BRE and the Centre for Digital Built Britain (CDBB) to transform the UK construction industry. With £72 million from UK Research and Innovation’s Industrial Strategy Challenge Fund, the Hub aims to change the way buildings and infrastructure are designed, manufactured, integrated and connected within our built environment.
Download the Report – An Introduction to the Value Toolk it HERE