This short presentation shares a little about BOOM! and our journey to date. It also explains the process you can elect to adopt to better identify your (development) project mission, and the tools we deploy to ensure that mission is realised.
Nearly 6 yrs ago our founders, Simon and Jony resolved to tackle the housing crisis by creating a tech-based property platform that empowers every landowner.
The platform connects and supports primary stakeholders through a value-based approach to development that delivers positive outcomes for all: the landowner, the developer, the community, the end user and the environment.
*the landowner can elect not to establish a Development Profile.
Building and development has always focussed on time, cost and quality. The old metrics. Metrics that fail to ask the important question ‘why are we building or developing?’.
Failure to ask this critical question results in a failure to establish a mission that causes the old metrics to take over; triggering a ‘race to the bottom’ that leads to poor quality developments that get stuck in planning because of valid opposition. If built, they are often built cheaply and poorly, they decay quickly, they lack services and achieve moderate sales results. No one wins.
By shifting your focus to value, we help you set a mission and together we deliver.
By enabling better decision making, the Development Profile empowers the landowner to deliver positive change; change they can be proud of.
To begin, we work with the landowner to establish the developments Strategic Objectives, which may include things like:
Once the Strategic Objectives are resolved, we work to hone their interdependencies before establishing the project Mission and its associated Core Outcomes.
After the Mission and Core Outcomes are established, the Value Outcomes are considered according to the four capitals: Natural, Social, Human and Produced Capital.
Is defined as the stock of renewable and non-renewable resources (e.g. plants, air, water, soils, minerals) that combine to yield a flow of benefits to people. In the context of the built environment, Natural Capital values the natural environment, addresses solutions to climate impacts and provides benefits to society throughout the full lifecycle of the project.
Is defined as the networks together with theshared norms, values and understanding that facilitate cooperation within and among groups.In the context of the built environment, Social Capital refersto influence and consultation, equality and diversity, networks and connections as well as the changes people experience in these areas as a result of built assets.
Is defined as the knowledge, skills, competencies and attributes embodied in individuals that contribute to improved performance and wellbeing. In the context of the built environment, Human Capital encompasses employment opportunities, skills development, individual health and wellbeing, as well
as a project’s capacity to influence these factors.
Is defined as the man-made goods as well as all financial assets that are used to produce goodsand services consumed by society. In the context ofthe built environment, Produced Capital encompasses a combination of capital cost, operational cost and revenue, thereby covering the whole of the direct monetary spend on the project over its whole life.
The four capitals each include sub-elements that relate to the process of developing and building.
In conjunction with you, we apply weightings to these sub-elements to priorities those we leverage through the delivery of the Mission and its Core Outcomes.
The weightings serve as a graphical map that developers follow to tailor effective solutions.
When agreeing a deal, we set goals and targets they must achieve when delivering the Mission.
*see image above
In demonstrating how the Development Profile is designed to work, we will here, briefly consider the Value Outcomes that the profile’s roadmap could procure.
Each of the four capitals’ sub-elements are relatively even, and highly-weighted in the example profile, meaning each capital is to materially impact the landowner’s mission. The profile’s roadmap will lead to procurement of a deal that secures quality placemaking, maximising the potential for community endorsement through inclusion of attractive project and community infrastructure that delivers strong sales revenues via such features, additional to quality design and exacting detailing/construction standards.
The high weighting across the sub-elements of Natural Capital, when read together with the high weighting of “experience” and “health” under Human Capital, as well “production” and “lifecycle cost” under Produced Capital, are all best represented by a prefabricated or modular design and construction approach.
A modular approach relies on quality design detailing and coordination during the design phases, which best positions the project to achieve high weightings against the sub-elements of Natural Capital, as features of this approach are lowered resource use and material efficiency; leading to reduced waste and lower embodied and operating carbon footprints; all of which can be further maximised through a delivery philosophy that harnesses a circular economy approach to material and waste management - reducing, reusing and recycling. Modular supports significant elements of off-site construction, therefore maximising the “experience” and “health” sub-elements of all stakeholders, not least the immediate neighbours and community.
Early and regular community engagement to best understand community infrastructure needs that can feature in the proposal will serve “involvement and influence” whilst procurement strategies involving local business will address “employment”.
By the end of the process we will have established a Mission that neatly summarises what project success looks like; we will understand the Core Outcomes as well as the Value Outcomes.
Since our inception BOOM! has grappled with how to design and implement a development profile that best supports a landowners ability to drive positive change in the built environment through partnering with industry and other primary stakeholders.
Approximately 2 years ago we became aware of the wonderful work undertaken by the Construction Innovation Hub in the development of their value toolkit; we decided to adopt it as the foundation of our development profile.
We would like to take the opportunity to acknowledge their wonderful work here.