TfL banks on new form of procurement to capture best ideas from all bidders

Transport for London has tested a new form of procurement on a project to upgrade the Bank-Monument interchange on the Underground. David Waboso, London Underground’s capital programmes director, explained the process

Transport for London has introduced a revolutionary new procurement process for its planned upgrade of the hugely complex Bank-Monument interchange. Under the old system, the winner would have taken all, but TfL has come up with a new method for retaining some of the money-saving ideas from the losing bidders. If their ideas are adopted, they will get a half-share of the savings.

The process is called Innovative Contractor Engagement (ICE), and its implementation is likely to be closely...

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