From our research and considerable experience across many sectors, and then tailored to the housing sector, there is a clear absence of reliable Key Performance Indicators (KPIs) that are explicitly linked to VFM.
We have a rigorous approach to identifying the most important and relevant VFM KPIs for each organisation. This approach is not about measuring everything, but finding a series of indicators (usually around 6 to 8) that demonstrate a direct linkage to VFM (and cash generation) and monitoring them in order to deliver the common goal of generating increased VFM and maximum efficiency. These KPIs would be used in conjunction with other quality and service delivery KPIs to form the basis for a Balanced Scorecard.
By concentrating effort on a manageable number of VFM indicators this will free management time to perform other aspects of their role more effectively.
These unique VFM KPIs are identified during our VFM reviews and are prioritised and linked to VFM, cash and your financial business plans through our financial models. They then become the drivers of Value for Money for management to focus on and optimise.
Testimonials
“VBS have sourced the drivers for performance and value and we are now entering into the implementation stage. Having set up champions for the KPI’s they identified, it is a whole new way of looking at how we manage the business.”
Peter Daly, Director of Housing Services, “Johnnie” Johnson Housing