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The Construction Innovation Hub鈥檚 Value Toolkit was officially launched at the Institution for Civil Engineers yesterday following a development programme that has featured contributions from more than 200 industry partners.

The toolkit, which is designed to change the way the industry thinks about and measures value, is one of the key initiatives of the Construction Innovation Hub, which was set up with 拢72m four years ago and is being wrapped up in September.

Yesterday鈥檚 event in Westminster included the launch of a new BSI flex standard to underpin value-based decision-making in the sector.

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Keith Waller, programme director at the Construction Innovation Hub, said: 鈥淭his is a landmark moment for the hub and our industry partners, and a gamechanger for construction and the built environment.

鈥淒ecision making in construction has been historically driven by how much something cost, or how long it took to build. The toolkit delivers a laser-like focus on project outcomes that delivers value beyond the bottom line, and will  positively affect communities and those who live in them for decades to come.

鈥淚t will ensure a more collaborative relationship between clients and suppliers throughout the whole life of a project.鈥�

>> Also read: Q&A with Keith Waller: Construction innovation in the age of covid-19

The government-funded, industry-led initiative emerged from the CLC鈥檚 2018 report entitled Procuring for Value. It aims to deliver on the ambitions of the Construction Playbook and the Transforming Infrastructure Performance report published by the government and the Infrastructure and Performance Authority in 2017.

Construction minister Lee Rowley said: 鈥淭he toolkit reflects the government鈥檚 desire to ensure we embrace a construction procurement process that has clean, green innovation at its heart.

鈥淚t complements our commitment to boost the productivity of this vital industry as part of our plans to grow the economy and create good quality jobs. I look forward to continuing to work with the Construction Leadership Council to realise this ambition.鈥�

Yesterday鈥檚 launch event also included a panel discussion hosted by 好色先生TV and featuring speakers including Mace chief executive Mark Reynolds and Ellie Jenkins, the integrated project lead at the Construction Innovation Hub. The discussion will be .

>> Also read: On-demand webinar | In conversation with Ron Lang, impact director for value at the Construction Innovation Hub