Impact Housing Association

Improvement Through Action

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Value for Money

Impact needs to get the best value from the assets it owns and the income it generates.  Across the organisation, from the strategic leadership, scrutiny and decision making by Impact’s Board to the everyday actions of Impact’s front line staff, a wide range of activities are undertaken to ensure value for money.    Impact’s approach to value for money is to be efficient, effective and economic.  This means

To be Efficient - Impact

·         Understands its costs and how these compare to other providers

·         Identifies areas for improvement, takes action and monitors the effects of any changes it makes

·         Understands the pros and cons of different delivery models and has a rational for the delivery models it chooses

 

To be Effective - Impact:

·         Uses performance indicators to understand how it is doing

·         Uses benchmarking to understand how its performance compares to others – and uses this       information to inform the choices it makes

·         Seeks, values, and acts on feedback on how it is performing from its customers and stakeholders

 

To be Economic - Impact:

·         Uses a procurement strategy, and clear specification, to ensure it gets the best value for the goods, products and services it buys

·         Understands the returns on its assets and has a strategy for maximising these

·         Monitors the effectiveness of any efficiency savings it makes

 

At the end of 2017 Impact produced a Value for Money Self-Assessment, click on the link on the right hand side to view this.

In 2018 Impact has participated in the Sector Scorecard benchmarking led by HouseMark.   This shows how Impact compares to other Housing Associations on some key Value for Money indicators.  We are currently waiting for the results to be published.

 

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