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.
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.
- Energy costs associated with the project.
- Facilities management costs and quality.
- Potential costs of retrofitting.
- Durability and resilience.
- Long-term value to society (e.g. a road tunnel that reduces journey times and therefore, energy consumption).
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.
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The articles contain information on implementing circular economy approaches in construction that could be relevant to:
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 About CIRCuIT
The Circular Economy wiki is supported by the Circular Construction in Regenerative Cities (CIRCuIT) project, which is funded by the European Union's Horizon 2020 research and innovation programme. CIRCuIT is a collaborative project involving 31 ambitious partners across the entire built environment chain in Copenhagen, Hamburg, Helsinki Region and Greater London. Through a series of demonstrations, case studies, events and dissemination activities, the project will showcase how circular construction practices can be scaled and replicated across Europe to enable sustainable building in cities and the transition to a circular economy on a wider scale.