How Do You Measure Value?
When a Tier 1 Contractor provided great feedback on our team’s commitment to high standards and the value it added to the project, we took the time to consider what the concept of value really meant.
Is value purely financial? It sometimes feels that way when the market is fluctuating and uncertainties hover round the corner. It is easy to place ‘creating financial value’ as the main objective of every project when the next one seems out of grasp; and this concept works for both client and consultant: speed, efficiency, cost-savings are tactics all parties can apply to create increased financial value.
But what about value added through absolute accuracy of information across every element of the project even if it doesn’t create immediate cost savings to the project but offers potential significant value over time? What about the value created by safety in the workplace, an area that may not always be monetised, but one of vital importance to any site and project?
It is these ‘longer-term’ and intangible aspects of value that can be easily overlooked when the industry is tightening its belt, but these are the things that can significantly change an outcome. Our commitment to high standards is not just about the budget it’s also to keep people safe. An underground pipe or electrical cable missed off a survey can hinder a project by a few months; it also has the potential to cost millions of pounds in delay; more significantly it has the potential to cause a fatality if we don’t pick it up but someone else further down the chain does.
And this brings us back to our client’s comments about our commitment to high-quality. Not only do clients need advice that addresses their immediate financial needs as well as those that are projected or anticipated, but an assurance that the information they receive will keep the site and its people safe for the duration of the project delivery. Clients also recognise the need to maintain their own reputation in instructing the right consultant to deliver a project efficiently – any delays to their project delivery can jeopardise their relationship with the client and future framework contracts.
This is why we invest in the right technology to provide efficient, robust solutions for all our projects and we champion a partnership approach so we can start to advise from the outset of an instruction. The aim is to provide clients with the results they require for a successful project on completion and beyond.
The industry is always looking for ways to increase efficiency and so we should. But it is also essential to give the right investment – whatever that may be, time, collaboration, money or all three – from the very early stages of a project. In this case-study above, our unnamed client took our advice that allowed us to provide quality information and results they could trust creating value and safety along the way.