Chair’s Letter: Towards Value-based Procurement
Blog Author: Richard Saxon, CBE I return to this topic again as it advances continuously. Government struggles with its procurement policy as forces pull in opposite directions. On the one hand, established practice is to seek lowest capital cost for design and construction in order to spread available resources over the most constituencies possible. On the other hand, there is growing awareness that processes seeking lowest first cost tend to produce poor value. Value is not just price, but a more complex concept embodying benefits…