Value For Money
Achieving ‘value for money’ in construction is the overriding focus of governments during procurement processes. That is why the Construction Industry Leadership Forum considers that it is critical that existing approaches to defining and assessing value for money during the infrastructure tendering phase are robust and align with best practice.
In reviewing existing processes and practices, the Construction Industry Leadership Forum intends to:
- Develop an updated and consistent narrative on value for money to improve understanding for both government and industry
- Expand on existing time and cost considerations by better outlining how other components contribute to value outcomes, including social, environmental and industry outcomes
- Develop a revised approach to value for money assessments for collaborative sole source procurements where assessing value for money through competition is not possible.
Outputs
Guidance: The Construction Industry Leadership Forum will be proposing an enhanced and consistent overarching, inclusive definition of value for money, exploring how approaches to assessing value during tender evaluations can be improved and consider how best to assess value for money in collaborative sole source procurements.