The concept of social value invites us to go beyond the narrow limits of 'value for money' in terms of the direct purchase of goods, services and outcomes. It involves thinking about the triple bottom line of sustainability (see diagram below) and relating this to commissioning services and procurement.
The Public Services (Social Value) Act 2012 requires public bodies to consider the economic, social and environmental well-being of the geographical area in which they operate. Social value can be considered at the pre-procurement phase, allowing it to be properly embedded from the outset.
This section is maintained by Social Enterprise UK.
Feature: Social value: exploring the concept
isurv section: Sustainable procurement
RICS journal article: The why and how of measuring social value in infrastructure