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Value for Money (VFM) strategy
The value for money (VFM) strategy set out the aims and
objectives of Medway Council Housing Services to ensure services
are provided as efficiently and effectively as possible. It
identified the service’s approach to VFM for 2010.
The strategy supports Housing Services’ corporate aims and
vision. It also supports the service planning process, with the
long-term aim of being recognised as a high-performing, low-cost
housing service.
Strategic approach to VFM
VFM can be defined as the relationship between economy,
efficiency and effectiveness. It is a term used to assess whether
or not an organisation has obtained the maximum benefit from the
goods and services it procures and provides within the constraint
of limited resources facing most local authorities.
Promoting VFM with Medway Council's housing service
Raising awareness of VFM within the housing service is an
important element of achieving it. The council recognised there are
improvements in relation to VFM to be made within Housing
Services.
Action plan 2010
Housing Services is committed to embedding a VFM culture
throughout the department and created an action plan for 2010. The
actions and priorities within the plan were linked to the five corporate
objectives relating to housing or to the council’s two core aims.
VFM is a continuing element for Medway Council Housing Services.
As the service evolves and faces new challenges, the VFM strategy
will need to meet the demands of efficiency and effectiveness and
of each VFM component. For this reason, this strategy will be
reviewed and amended at least annually to ensure it remains fit for
purpose and reflects changes or challenges in the economic climate,
legislation or local demographics.
Download Medway Council Housing Services
Value for Money Strategy 2010 (pdf 152KB). To use this file,
you will need Adobe Acrobat Reader. If you do not have it on your
computer, please use our advice page.
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