Registered providers must comply with the Regulator of Social Housing’s Value for Money Standard but more fundamentally there are ever increasing demands on providers in terms of service delivery, investment in existing homes, the development of new ones and supporting tenants and communities, all of which must be delivered with limited resources.
How we can help
We can help you not just to comply with the Regulator’s expectations in relation to Value for Money, but also to maximise the achievement of your objectives, through making the best use of the resources and assets available to your organisation.
Reviewing strategic objectives
In order to consider Value for Money it is essential that organisations know what they are seeking to achieve. We can help you by considering, including through one or more interactive workshops with Board and committee members and officers if that is your preferred approach, your strategic objectives and how your existing and any potential activities contribute to the achievement of those objectives, including how the anticipated social, environmental and financial returns of activities balance with the risks involved.
Delivery structures options analysis
The Regulator’s Value for Money Standard requires that providers consider the costs and benefits of alternative commercial, organisational and delivery structures. We can help you by thinking about what those alternative structures might be and supporting you to undertake options analyses, assessing the advantages and disadvantages of moving away from your existing arrangements.
Measuring and reporting Value for Money performance
The Regulator also requires providers to set appropriate targets for measuring performance in achieving Value for Money in delivering their strategic objectives, and then to monitor and report on them on a regular basis as well as in the annual accounts. We can help you to identify appropriate metrics to demonstrate how you are doing in terms of delivering Value for Money, including the selection of a peer group against which to measure your own performance. We can also help you to develop reporting of Value for Money performance whether that be regular reporting to senior management and the Board or to meet the Regulator’s requirements in relation to reporting on Value for Money in your annual accounts.
Conducting a Value for Money review
We can also help you to consider Value for Money in the round by undertaking a more extensive Value for Money review, incorporating some or all of the options set out above. Whichever option you choose, we can tailor our approach to focus on any areas that you have particular concerns or uncertainties about.