Innovation for infrastructure projects

Governments seek to achieve better Value for Money (VfM) through their investments in infrastructure projects. This may include social, economic and environmental benefits that can be achieved through these types of projects. Today, governments are trying to utilize a number of different strategies to achieve better outcomes. Promoting innovation and new ideas is one strategy that is gaining popularity in today’s economic environment. There is a significant amount of anecdotal information that suggests that innovation is the underpinning driver that leads to enhanced outcomes across different kinds of projects. The importance of infrastructure in economic development is acknowledged through research and practice. Current thinking often argues that investing early in project modelling and design will bring remarkable outcomes if there is a focus on the whole of life costing and VfM. In this research we discovered how innovation is produced and captured in major projects in Australia and how innovation may arise in design, project management, finance and procurement and other areas