VALUE FOR MONEY

At Klassic, VfM is high on our priorities and is not only about cuts.
We work hard to achieve it in different ways including:

• reducing costs ( labour costs, better procurement and commissioning) for the same outputs
• reducing inputs (eg, people, assets, energy, materials) for the same outputs
• getting greater outputs with improved quality (eg, extra service or productivity) for the same inputs
• getting proportionally more outputs or improved quality in return for an increase in resources.

VfM is not an optional add-on. It is a way of doing things that underpin everything we do at Klassic, from performance management to procurement, from business planning to consultation. To us, because of the way in which we have embraced the concept, our perception of it is more REAL Value for Money than value for money itself.

The emphasis of VfM has changed over the years, from a focus on competition through to encompassing issues of quality and service improvement through best value, to achieving efficiencies and, most recently, to ensuring that issues of equity and sustainability are addressed. These are all different ways we look at the same topic.

We recognize that VfM for one organisation, may not be the same for another. However, it is the point where strong element of good, informed, judgment is required to achieve the satisfactory outcomes that we then reinvest back into our business and community.