Value for Money

We’ve been mulling over value for money a lot recently. Although the concept of value for money is not new, it still arouses fundamental debate. Anyone whose background is in the private sector will argue that seeking value for money is, or ought to be, second nature and simple common sense rather than a topic that requires debate, training or to be reported on specifically. Many of us in Uniac approach value for money with this mind set, yet it is also evident that a sector that still draws much of its funding, whether directly or indirectly, from public sources must be sensitive to the expectations of government. HM Treasury and in turn the Department of Business Innovation & Skills (BIS) clearly expect that to compete with the other demands on the public purse, the Sector must demonstrate that it delivers value for money.