R&D group has been backed with £72m of government money
The Construction Innovation Hub has unveiled the first of its key outputs, with the organisation releasing its new tools for value-based decision-making in the built environment.
The £72m government-backed R&D programme is working with to develop a new "value toolkit" intended to help policy makers and clients make faster, informed decisions that 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 MMC, delivering social impact and accelerating the path towards net zero.
Announced today as part of UK Research and Innovation’s Future of Building Week, the new toolkit contains a suite of tools in four linked modules.
> Register now: Accelerating the journey towards value-based decision making in UK construction
These will support policy makers, clients and advisors in defining the value profile for a given project and create value indices through which informed decisions can be made.
It will also help clients to select a delivery model and commercial strategy, and industry to develop business models, that best meet the value drivers of the project.
The tools have been designed to 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.
Keith Waller (pictured), programme director of Construction Innovation Hub said that in the effort to recover from covid-19 it is crucial the industry makes a lasting shift towards value-based decisions that drive better social, economic and environmental outcomes.
He 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.”
Waller will be part of a webinar, hosted by Building, later today to discuss the new toolkit.
The other panellists that are part of the discussion are Ann Bentley, global board director at Rider Levett Bucknall and lead on supply chain and business models at the Construction Leadership Council, Neil Robertson, chief executive at the National Skills Academy for Rail, Hannah Vickers, chief executive at the Association for Consultancy and Engineering and Huda As’ad, head of infrastructure performance at the Infrastructure Projects Authority.
To register for the webinar, which will begin at 1pm, please click here.
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