New interactive tool signals construction is one step closer to value-based future
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”.