Valued projects are vital for construction's economy

Construction could double its 7% GDP figure in the national economy if it took into account the value of its projects, according to the Collaborating for the Built Environment's (be) new chairman Richard Saxon.

Speaking yesterday (Wednesday) at the first annual conference of the newly-amalgamated group in London, Saxon said that contractors should be concentrating more on the value stream of the project rather than just the project itself.

"How often is feedback used in the industry?" questioned Saxon. "I would argue hardly ever. However, it is this data flow throughout the project team which could raise the profile of the industry. Construction needs to concentrate on providing solutions to the client, not just the end product."

Saxon added that in examples, such as the aviation industry, the end product, or plane, is created with the purpose of flying. However in construction the end product and the value of the project to its client's function is often neglected.

He also argued that most government departments wouldn't know the actual cost of a project, taking into account the functionality of a building, if it was asked.

"The real problem is that there is no idea just how the industry can add value to the economy," he added.