Value for money standard

Ability’s value for money standard

As a Registered Housing Provider we are required to achieve the following:

• In meeting our objectives, we must set out and deliver a comprehensive and strategic approach to achieving value for money.
• We must provide a robust assessment of the performance of all our assets and resources, including how they benefit society and the environment.
•  We must make sure we take into account the interests of all our stakeholders.
•  We must let our stakeholders know how well we are performing, in an open and accessible way.

We must also:

• take strong decisions about how we use our resources and compare the costs of the next best alternatives
• understand the return we get from our assets and have a strategy for optimising future returns – this has to include reviewing all options that might improve our value for money
• review the benefits of delivering our services differently – measured against our objectives
• make sure we deliver better value for money by having good performance management and scrutiny systems
• understand the cost and outcome of delivering specific services, and the factors that affect these costs.