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Value for Money
Quote We will review all our services and organise them to achieve improved service quality and/or reduced overall costs by 31/03/2010. Quote

What is Value for Money?

Value for Money (VFM) is the concept that is defined as the relationship between the following three headings:-

Economy relates to the cost of buying products or services.

Efficiency measures productivity or how much is gained from what is put in.

Effectiveness measures the impact of what has been achieved from both a quantitative i.e. a compliment or complaint from a resident and a qualitative perspective i.e. primarily concerned with the outcome for residents. It can also be the extent to which Sovereign Housing Group’s (SHG) objectives are met.

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