Value For Money

Value for money in construction is about more than lowest up-front cost at the tender box. Time and cost are important; however, value throughout the build and the life of an asset, and value to the community are essential elements of value for money in construction. 

Value may include outcomes such as industry development, culture, environmental outcomes, local content, workforce capability and capacity, innovation and whole-of-life operations and maintenance of an asset. 

The Construction Industry Leadership Forum is focused on ensuring approaches to defining and assessing value during the infrastructure tendering phase are robust and align with best practice. As such, the forum is developing an updated and consistent narrative on value for money to improve understanding for both government and industry. This will include expanding on existing time and cost considerations by better outlining how other components contribute to outcomes including social, environmental and industry outcomes.

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