Value for money
Regulatory requirement
The housing regulator in England and Wales, the Homes and Communities Agency (HCA) requires housing providers to articulate and deliver a comprehensive approach to achieving value for money in meeting their objectives, taking into account the interests of and commitments to stakeholders.
This means managing resources economically, efficiently and effectively to provide quality services and homes, and planning for and delivering year-on-year improvements in value for money.
Derwent Living’s framework and objectives
Derwent Living has introduced a new value for money framework which allows its board of management to assess how effective its services are in terms of targeted cost and performance.
The new framework called a ‘value for money index’ has been developed based on three key areas, effectiveness, efficiency and economy.
There are then two categories in each area that allow the business to accurately and effectively measure performance. By reporting on these measures with a centralised tool, the intention is to be able to represent how Derwent Living is achieving value for money at a departmental level, and any areas where improvements could be made.
Have your say
Customers wishing to get involved in discussing value for money can attend their nearest resident involvement forum. The forums include allocated time to look at performance against the value for money index. For more information contact the resident involvement team getinvolved@derwentliving.com or call 01332 346 477.
