The ODA's procurement team, who won the award for 'best public procurement project'earlier in the evening, were presented with the top award on stage with host for the night comedian and TV star Miranda Hart.

Charged with one of the largest regeneration initiatives in Europe, the ODA team set about changing the way public procurement is conducted. Through the adoption of a delivery partner, the first time the approach has been used for such a big project, it was able to ensure that the contract spread risk and incentivised timely delivery.

It also lived up to the all-inclusive nature of the Olympics, with more than half its workforce being drawn from Black, Asian and Minority Ethnic backgrounds, while 12 per cent of the workforce had been previously unemployed. Most impressive of all was the team's consistency at coming in on time and under budget. The Velodrome, which will stage the cycling events, was completed after 23 months and the Olympic Stadium was finished three months early and £10 million under budget.

Judges said: "The benefits of this entry will last for a long time after the Olympics has been and gone. The significant practice developments will, in our estimation, become industry standards."

ODA chairman John Armitt, said: "Procurement has been fundamental to our success, not only in terms of budget and construction delivery, but also to support our wider objectives of sustainability, equality and inclusion."

Other winners on the night included:

Best contribution to corporate responsibility
Skanska UK

Best cross-functional teamwork project
NHS Business Services Authority

Best people development initiative
Network Rail

Most improved purchasing operation - step change
Balfour Beatty

Most improved purchasing operation - start-up
Adelie Food Holdings

Best purchasing initiative by an SME
Neal Brothers

Best public procurement project
Olympic Delivery Authority

Best contribution to the reputation of the procurement profession
Cancer Research UK

International purchasing project of the year
Wincanton

Best supplier relationship management
Adelie Food Holdings and Cawleys