Value For Money (VFM) is a constant for North Star. It is about doing more with our resources so that we can achieve our corporate objectives. By optimising VFM throughout the organisation, we release additional resources to invest in tenant services, maintain our existing homes and increase the supply of new homes.
Delivering VFM is part of an integrated and embedded approach, rather than something separate or an annual task that must be completed. VFM is a critical business tool. VFM at North Star is not just about reducing costs. Quality and price are both important, as is the relationship between investment and performance, and these form the basis of our VFM measurement and monitoring.
In summary, what VFM means to us includes:
- Economy, efficiencies, and cost savings.
- Effectiveness and enhanced quality for tenants.
- Investment in new housing and existing homes.
- Added social value.
Our comprehensive approach to VFM is not new, but has been progressively honed over the years. Our focus on continuous improvement has enabled us to develop and invest in keeping North Star strong.
