ECA welcomes the Value Toolkit for the construction industry
Contents |
[edit] Introduction
On 4 May 2021, ECA welcomed the construction industry’s Value Toolkit. The Value Toolkit is a product of collaboration between over 200 experts under the wing of the Construction Innovation Hub.
[edit] Measuring value
For many years, ECA has been advocates of whole life, rather than capex, value. The Toolkit, which is still at pilot stage, addresses the way the industry thinks about, and measures value. It offers a structured approach to value-based investment decisions about a project or portfolio. And it draws on best practice in sustainable investment from across the globe.
The Value Toolkit's user-friendly tools help clients define value beyond capital costs. Value-based decision making is already enshrined in public and private investment policy, but there is often a gap between the outcomes promised and those delivered.
The Toolkit supports policy objectives common to both the Government’s Construction Playbook and the Construction Leadership Council’s Roadmap to Recovery. It helps clients engage effectively with the supply chain and to consider the social, environmental and economic benefits and consequences of their decisions.
[edit] Toolkit development
Before becoming CLC Business Models work stream leaders, ECA took part in early stage development of the Toolkit, contributing to the Procuring for Value Report.
Rob Driscoll ECA Director of Legal & Business said, "For the engineering services sector, which spans both construction and maintenance, the Value Toolkit is a milestone towards the goal of linking capex and opex in the pursuit of value (not lowest priced) based procurement."
Until October 2021, the Construction Innovation Hub is looking to fine tune the Toolkit. It is seeking partners from the wider sector to take part in the pilot.
Partners have the chance to test the Value Toolkit on live projects and programmes with support from the Toolkit community.
This article originally appeared on the ECA website under the headline, 'ECA welcomes the construction industry’s Value Toolkit'. It was published on 4 May 2021.
--ECA
[edit] Related articles on Designing Buildings Wiki
- Articles by the Electrical Contractors' Association (ECA).
- BRE welcomes the introduction of the Value Toolkit.
- Capital expenditure for construction.
- Construction Innovation Hub.
- Construction Leadership Council CLC.
- Engineering services and industry recovery guide.
- Get ready for green jobs and upgrade projects.
- Life cycle in the built environment.
- New deal for infrastructure 2020.
- Procurement route.
- Why we need to grasp the whole life cycle.
- The Construction Playbook.
- The Value Toolkit.
Featured articles and news
Government consultations for the summer of 2025
A year of Labour, past and present consultations on the environment, the built environment, training and tax.
CMA competitiveness probe of major housing developers
100 million affordable housing contributions committed with further consultation published.
Homes England supports Greencore Homes
42 new build affordable sustainable homes in Oxfordshire.
Zero carbon social housing: unlocking brownfield potential
Seven ZEDpod strategies for brownfield housing success.
CIOB report; a blueprint for SDGs and the built environment
Pairing the Sustainable Development Goals with projects.
Types, tests, standards and fires relating to external cladding
Brief descriptions with an extensive list of fires for review.
Latest Build UK Building Safety Regime explainer published
Key elements in one short, now updated document.
UKGBC launch the UK Climate Resilience Roadmap
First guidance of its kind on direct climate impacts for the built environment and how it can adapt.
CLC Health, Safety and Wellbeing Strategy 2025
Launched by the Minister for Industry to look at fatalities on site, improving mental health and other issues.
One of the most impressive Victorian architects. Book review.
Common Assessment Standard now with building safety
New CAS update now includes mandatory building safety questions.
RTPI leader to become new CIOB Chief Executive Officer
Dr Victoria Hills MRTPI, FICE to take over after Caroline Gumble’s departure.
Social and affordable housing, a long term plan for delivery
The “Delivering a Decade of Renewal for Social and Affordable Housing” strategy sets out future path.
A change to adoptive architecture
Effects of global weather warming on architectural detailing, material choice and human interaction.
The proposed publicly owned and backed subsidiary of Homes England, to facilitate new homes.
How big is the problem and what can we do to mitigate the effects?
Overheating guidance and tools for building designers
A number of cool guides to help with the heat.
The UK's Modern Industrial Strategy: A 10 year plan
Previous consultation criticism, current key elements and general support with some persisting reservations.
Building Safety Regulator reforms
New roles, new staff and a new fast track service pave the way for a single construction regulator.