Insuring Better Practice
TDS Director Daniel Leech is also the co-founder of the Construction and Design Centre of Excellence, or Cadcoe. Having identified a skills shortage, it was formed to provide those new to the industry with the vocational and technological skills necessary to make them work-ready. As part of Cadcoe’s partnership with Dudley College, from September, students will receive their training in Dudley Advance II, the Centre for Advanced Building Technologies.
The new facility has been built using a revolutionary procurement technique called Integrated Project Insurance. IPI is a new type of insurance that allows technology, rather than bureaucracy, be the driving force behind a project. At its heart, the idea is to eliminate waste, be that of information, time or money.
At the start of a project, a company is formed, called an Alliance, consisting of all interested parties: Client, Designer, Constructor etc. The project is then designed in response to the client’s needs and this information is shared across the Alliance. No aspect needs to be designed twice by different providers, everyone works from a single plan. The Alliance has one bank account and because it’s everyone’s money efficiency is incentivised and waste is avoided.
IPI really is a revolutionary policy, all rights of subrogation are waived and liabilities to third parties during the construction process are covered, so no internal liabilities need to be considered. This means that the blame culture, encouraged by traditional Project Insurance, is avoided and all parties can operate on a completely blame-free basis. This leaves everyone free to harness the full potential and benefits of BIM, within a collaborative and lean project structure.
We’re very excited about the whole concept of Integrated Project Insurance and we’ll be keeping you updated as new developments arise. For now though, it’s up to our new Cadcoe students to benefit from a brand new facility that we hope is the shape of things to come.