What we want to achieve:

• Investment of our financial resources effectively in order to deliver our corporate strategy.
• Adoption of effective and efficient approaches to our business delivery that recognises and learns from good practice.
• A practical, systematic, participative and integrated approach to continuous improvement, in order to deliver cost effective improvements that either improve the quality of our services or reduce the cost of service provision without reducing the quality of our services.
• Effective interrogation of data to understand our performance in all areas so that we can
  target improvements that have the greatest impact.
• Understanding of the balance between economy, efficiency and effectiveness when designing our services and structure.

How are we going to deliver this strategy:

• Benchmarking our activities against comparable organisations to understand differences so we can improve our services.
• Maximising our use of technology to increase efficiency and reduce costs.
• We will work with others when appropriate in order to share the cost of back office functions.
• Undertaking regular improvement reviews across our business activities to find better ways of delivering services.
• Seeking on and off balance sheet funding in order to finance more affordable homes.
• Reviewing how we procure building materials and office supplies.
• Seeking relative cost savings of 5% per annum in our operating costs

Why we have this strategy:

• To use financial and people resources appropriately and in a manner that is consistent with our organisational philosophy.
• To optimise our delivery of services to tenants, clients and the wider community

How we are going to measure our achievement of this strategy:

• Average management cost per tenancy
• Relationship between benchmarked performance and benchmarked cost
• Internal Audit Reports

A full copy of our Value for Money statement can be found below .