The Construction Innovation Hub released the Value Toolkit in beta form in May 2021 for a 6-month industry trial. The Value Toolkit is a government backed initiative designed to change the way the construction industry thinks about and measures value.
This webinar provides an overview of the Toolkit and how it could be used to inform and support the adoption of an outcome-based approach to infrastructure delivery within the Highways and Transportation Sector. This webinar is hosted by CIHT Scotland.
The Value Toolkit was developed by the Construction Innovation Hub, in partnership with over 200 experts from across industry and Government, to help redefine value and how to measure it.
The Value Toolkit enables value-based decision making focused on driving better social, environmental and economic outcomes, improving industry’s impact on current and future generations.
Decision making in construction has been historically driven by how much something cost, or how long it took to build. A project’s entire value was then measured against those two benchmarks.
However, in transforming the construction industry to deliver better outcomes, the definition of value, and how it can be measured, has been reframed. Creating the opportunity for wider factors to be considered, improving the return on investment for society, the economy and the environment.
The Value Toolkit is a framework designed to assist decision makers in navigating the metrics of holistic value measurement across the entire lifecycle of a project, programme or portfolio.
* This event will be preceded by a short announcement of this year’s CIHT Scotland Young Professional and Apprentice award winners along with recognising the winners of the Tom Riddell Prize.
Those involved in the planning, appraisal, design and delivery of highways and transportation infrastructure.
Conor McCarthy, Associate Director, WSP
Conor McCarthy is an Associate Director in WSP’s Commercial Advisory business. He was Programme Lead for the client approach and risk streams of the Value Toolkit and is a Fellow of the Institution, a Chartered Engineer, Chartered Project Professional and an NEC3 / NEC4 ECC Accredited Project Manager.
For further information, please e-mail us at scotland@ciht.org.uk
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