Whole-life value - Revision history

Designing Buildings at 14:04, 6 October 2021

2021-10-06T14:04:45Z

← Older revision		Revision as of 14:04, 6 October 2021
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	The building sector is increasingly aware of whole life value, with lower emission rates, corporate social responsibility considerations, life cycle assessment, increasingly strict environmental standards and so on. In particular, WLV has been promoted as a method for assessing long-term projects such as private finance initiative (PFI) projects.		The building sector is increasingly aware of whole life value, with lower emission rates, corporate social responsibility considerations, life cycle assessment, increasingly strict environmental standards and so on. In particular, WLV has been promoted as a method for assessing long-term projects such as private finance initiative (PFI) projects.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings =
−		+
−	=== Related articles on Designing Buildings ~~Wiki ==~~=	+

	* BREEAM Life cycle cost and service life planning.		* BREEAM Life cycle cost and service life planning.

Designing Buildings at 09:50, 24 March 2021

2021-03-24T09:50:37Z

← Older revision		Revision as of 09:50, 24 March 2021
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	* Value management.		* Value management.

−	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Circular_economy]] [[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]

Designing Buildings at 07:02, 25 November 2020

2020-11-25T07:02:37Z

← Older revision		Revision as of 07:02, 25 November 2020
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	* Value management.		* Value management.

−	[[Category:~~Standards_/_measurements~~]] [[Category:~~DCN_Standard~~]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]

Designing Buildings at 12:31, 8 June 2018

2018-06-08T12:31:31Z

← Older revision		Revision as of 12:31, 8 June 2018
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	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===

		+	* BREEAM Life cycle cost and service life planning.
	* Design life.		* Design life.
	* Embodied energy.		* Embodied energy.
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	* Value management.		* Value management.

−	[[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]	+	[[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]

Designing Buildings at 05:47, 17 May 2018

2018-05-17T05:47:26Z

← Older revision		Revision as of 05:47, 17 May 2018
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−	~~Whole life value (WLV)~~ is a ~~process of assessing~~ a ~~project based on its long-term costs~~ and ~~social impacts. This is different from~~ whole life ~~costs (WLC) which considers costs associated with the life of the project itself; its construction, operation, disposal, etc~~.	+	Value relates to assessment of the benefits brought by something in relation to the resources needed to achieve it. In the context of construction projects it is normally expressed as a ratio between a function and the whole life cost for that function.

−	Whole life value is ~~more~~ closely linked with sustainability and how environmentally-friendly the project is. In calculating the WLV it may ~~take~~ into account:	+	Value = function / whole life cost
		+
		+	Where the term 'whole life value' (WLV) refers to the process of assessing a project based on its long-term value and social impacts. This is different from whole life costs (WLC) which considers costs associated with the life of the project itself; its construction, operation, disposal, etc.
		+
		+	Whole life value is closely linked with sustainability and how environmentally-friendly the project is. In calculating the WLV the following considerations may be taken into account:

	* Energy costs associated with the project.		* Energy costs associated with the project.
	* Facilities management costs and quality.		* Facilities management costs and quality.
−	* Potential costs of retrofitting ~~that are not required~~.	+	* Potential costs of retrofitting.
−	* Durability and ~~fitness~~-for-purpose ~~issues~~.	+	* Durability and resilience.
−	* Long-term value ~~for~~ society (e.g. a road tunnel that reduces journey times and therefore, energy consumption).	+	* Fitness-for-purpose.
		+	* Long-term value to society (e.g. a road tunnel that reduces journey times and therefore, energy consumption).

−	~~Clients should be involved early in the strategic decision-making process in order to achieve WLV from a project. Conflicting issues such as~~ environmental impact, economic performance, technical viability, client’s requirements, and so on~~, may give rise to compromises being made which negatively influence the WLV, and so early client involvement can work to prevent this~~.	+	Issues that can sometimes conflict with whole life value might include; environmental impact, economic performance, technical viability, client’s requirements, and so on.

−	WLV has been promoted as ~~being~~ a ~~more suitable~~ method of assessing ~~a project, particularly~~ long-term ~~PFI~~ projects. It is also argued that the building market is developing in the direction of those properties with low emission rates and high environmental credentials, meaning that developers should consider WLV more seriously. For example, corporate tenants of a building may require certain levels of sustainability in order to conform to their corporate social responsibility (~~CSR~~) ~~strategy~~.	+	The building sector is increasingly aware of whole life value, with lower emission rates, corporate social responsibility considerations, life cycle assessment, increasingly strict environmental standards and so on. In particular, WLV has been promoted as a method for assessing long-term projects such as private finance initiative (PFI) projects.

	= Find out more =		= Find out more =
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	* Utilising life cycle costing and life cycle assessment.		* Utilising life cycle costing and life cycle assessment.
	* Whole-life costs.		* Whole-life costs.
		+	* Value.
	* Value engineering.		* Value engineering.
	* Value management.		* Value management.

	[[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]		[[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]

Editor: Created page with "Whole life value (WLV) is a process of assessing a project based on its long-term costs and social impacts. This is different from whole life costs (WLC) which considers costs as..."

2018-04-19T12:27:03Z

Created page with "Whole life value (WLV) is a process of assessing a project based on its long-term costs and social impacts. This is different from whole life costs (WLC) which considers costs as..."

New page

Whole life value (WLV) is a process of assessing a project based on its long-term costs and social impacts. This is different from whole life costs (WLC) which considers costs associated with the life of the project itself; its construction, operation, disposal, etc.

Whole life value is more closely linked with sustainability and how environmentally-friendly the project is. In calculating the WLV it may take into account:

* Energy costs associated with the project.
* Facilities management costs and quality.
* Potential costs of retrofitting that are not required.
* Durability and fitness-for-purpose issues.
* Long-term value for society (e.g. a road tunnel that reduces journey times and therefore, energy consumption).

Clients should be involved early in the strategic decision-making process in order to achieve WLV from a project. Conflicting issues such as environmental impact, economic performance, technical viability, client’s requirements, and so on, may give rise to compromises being made which negatively influence the WLV, and so early client involvement can work to prevent this.

WLV has been promoted as being a more suitable method of assessing a project, particularly long-term PFI projects. It is also argued that the building market is developing in the direction of those properties with low emission rates and high environmental credentials, meaning that developers should consider WLV more seriously. For example, corporate tenants of a building may require certain levels of sustainability in order to conform to their corporate social responsibility (CSR) strategy.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Design life.
* Embodied energy.
* Energy targets.
* Life cycle assessment.
* Sustainability.
* Utilising life cycle costing and life cycle assessment.
* Whole-life costs.
* Value engineering.
* Value management.

[[Category:Standards_/_measurements]] [[Category:Sustainability]] [[Category:Cost_/_business_planning]]