Value for Money

What is Value for Money (VfM)?

Value for money can be summed up as doing the right things in the right way for the lowest price. This is often referred to as the “3 E’s” of Economy, Efficiency and Effectiveness.

Sutton Housing Partnership is committed to providing Value for Money; to making sure that we provide the best possible services within the budgets available to us at the best possible price. While this is often always thought of as just finding the cheapest price for goods and services we buy it is much more about making sure we are providing the level of service you, our customers, demand but not paying more than we need to for it. 

How are we doing this?

Sutton Housing Partnership has a VfM Strategy in place, supported by VfM and Procurement Frameworks which explain how we are ensuring we work to continuously challenge costs and deliver the most efficient services we can.

In addition, several of our performance targets are VfM based and are reported to managers and the Board on our Balanced Scorecard. Some of these are directly VfM related, such as making sure our administrative ‘back-office’ costs do not increase to the detriment of front-line services, while others are more indirect, for example by reducing the number of days it takes to repair a void (empty) property and make it available for letting helps us maximise our income and reduces the waiting lists for properties.   

What have we done so far?

We have many examples of how we have ensured Value for Money and a few of them are listed here:

• We have obtained funding from the Police, Safer Neighbourhoods and the Council to improve lighting at…….., install security gates at……….., and replace playground equipment at…
• We have negotiated free training for our staff from a number of organisations, allowing us to make sure staff are fully able to fulfil their roles
• We are reducing paper waste at our offices through use of intelligent printers and copiers
• We have agreed significant discounts from British Gas to help us install insulation to your homes
• We are looking to reduce costs of repairs through better planning of individual door and window repairs etc. 

• Do YOU have further suggestions?

  
  Sutton Housing Partnership is committed to listening to our customer’s views and would like to hear of any suggestions you might have on how we can save money or become more efficient.

If you have any Value for Money ideas please let us know by using our suggestions form and email it to vfm@suttonhousingpartnership.org.uk|