Major infrastructure programs increasingly pursue social value through procurement initiatives, yet evaluation practices rely on linear models ill-suited to policy-driven complexity. This study aims to examine how social value outcomes emerge through interacting system processes rather than isolated interventions in an inclusive infrastructure employment program. Applying systems-thinking to Victoria, Australia's Engineering Pathways Industry Cadetship (EPIC) program within the Level Crossing Removal Project, the study re-examines program documentation through causal loop analysis. The diagram reveals twelve elements across four subsystems: policy and institutional context, resource and capacity, operational delivery, and outcomes realization. Analysis identifies predominantly reinforcing dynamics linking policy instruments, throughput, capability development, and outcomes, alongside balancing mechanisms through employer resourcing and barrier removal. Findings demonstrate how systems-oriented analysis overcomes linear evaluation limitations, supporting adaptive management. The paper argues that systems-thinking equips decision-makers to identify high-leverage intervention points and govern social value as integral program performance, establishing foundations for participatory modeling research.