- The BAS tool will be developed by the NSW government in conjunction with KPMG
- Fair Trading and insurers alike can use the tool
- Will be used as part of the government's Project Remediate
A world-first construction assurance tool that will be used to assess a residential apartment building’s quality will be developed through a public-private partnership, the New South Wales government has announced.
In partnership with KPMG, the Building Assurance Solution (BAL) will bring together both the products and designs certificates of compliance for each building, which will effectively create a digital DNA.
This will then be used to establish ratings for individual buildings, so they can be compared like-for-like.
Kevin Anderson, the Minister for Better Regulation, said this technology will dually drive transparency and lift standards in the construction industry.
“We expect this to be a genuinely world-leading piece of work that will help measure the quality and insurability of buildings by identifying which buildings are trustworthy, from measuring compliance with design and construction standards to traceability of materials all the way back to the manufacturer,” Mr Anderson said.
“With this information, aspiring homeowners will be able to make better decisions about what could be the most significant purchase in their life, before they buy.”
Kevin Anderson, Minister for Better Regulation
Using the BAS tool, the regulator, Fair Trading, will be able to easily identify and respond to defective products while insurers, for the first time, can easily compare buildings so they can better price insurance.
“This tool will show us what products were used, who made them, what testing certifications are held and, who installed and certified building work. Practitioners who build and design in NSW will now have a digital fingerprint that will attach to every project they have worked on,” added Mr Anderson.
“The Building Assurance Solution, combined with the requirement for designers and builders to lodge their designs electronically and declare they comply with the building code, will help give insurers confidence to return to the market.”
The tool will be implemented as part of the state’s Project Remediate. Additionally, KPMG will work with Mirvac and other private sector companies to demonstrate the application of the tool.
“Ultimately this tool will help establish NSW as the best place to run a trustworthy construction business, giving the cowboys nowhere to hide and consumers confidence they’re buying an apartment that will stand the test of time,” Mr Anderson concluded.
