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Importance of Outlining and Measuring Social Value in FM Projects

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In a recent report, it has been stated that social goals must be outlined in a clear and concise manner before then being integrated into FM contracts. Nodding to clear best practice methods and encouraging a manageable approach to corporate social responsibility with respect to communities, the report, published by Acclaro Advisory, has been created from correspondence with twenty seven leading FM providers, local councils, literature review and survey undertaken online.

Nodding to the importance of assessing the requirements for social value to be made unavoidably apparent in the contract itself, project commissioners highlight the way in which additional security can be provided as to the potential benefits and opportunities to be fostered over the course of the project. Yet, the report outlines a potential lack of understanding as to the potential social value which FM providers can actually offer during projects, with both such FM providers and clients acknowledging that fact.

Aiming to adapt the communication between project commissioners and FM providers, the report also provides insight into how the two parties can better discuss the potential for social value and come to realistic, achievable goals for social benefit; this is highlighted trough the provision of best practice case studies and practical examples.

In addition to stressing the importance of communication on social goals and the way in which contracts are arranged, the report also discusses the important requirement for having clearly defined measurement criteria for the social value. Recognising, however, that there are individual, unique, contributing factors towards how this much be measured in each contract, the report then nods to the construction sector as an example where criteria for such goals has already been put in place.

Of course, the report, while something which organisations on both sides of the fence would need to take heed of, is, in effect for the benefit of all those involved and will support the culmination of greater social value on individual projects – a positive future to strive towards.

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BDC 317 : Jun 2024