Our Value for Money Approach
In these times of reducing budgets and the need to ensure that every pound spent adds value, the Southampton Partnership has developed its own Value for Money (VfM) Assessment Framework to provide a Learning Toolkit for all partnerships who want to check the Value for Money impact of their activities or what they intend to deliver:
Value for Money is about the 3 E’s:
of what we do.
Don’t forget to look for the:
We intend it to be of use for Providers, Commissioners, and Procurers of services, as well as those who Measure what is delivered across our Partnership. You will find it is very useful in celebrating the successes that your projects / activities have actually achieved; as well as a tool to help make future service delivery option decisions.
To demonstrate that the VfM Assessment Framework works, we have undertaken a number of VfM Case Studies which provide practical and real-life examples of how our partnership working truly adds value and improves quality of life outcomes.
We would welcome any feedback, observations or thoughts you might have to (Southampton.Partnership@southampton.gov.uk) along with any examples of your own VfM successes in what you do.
Value For Money Case Studies planned for 2010/11 - We have developed this format from pilot studies undertaken over the summer of 2010. Once completed they will be posted here during the Autumn / Winter of 2010/11.)
The Summary Headlines of 3 VfM Case Studies from the LAA 2007/10 Stretch Target programme.
Check out these Case Study results that:
1) Show where Partners, only by working together, have successfully delivered important projects that achieved significant outcome improvements in Key Priority areas for the city.
2) Identified how the projects caused Partners to act differently by creating innovative ways of working.
3) Found VfM achievements and identified lessons learnt around the 3 E’s –Efficiency, Effectiveness & Economy and achieved additional Social Value returns for the city.
For an overview of our VFM approach you may wish to view this presentation.