Value for Money
Value for Money (VfM) means obtaining the maximum benefit from goods and services acquired and provided, within available resources. It is a more complex concept than simply lower prices or lower inputs, important as these are. It also takes account of factors such as quality, resource use and fitness for purpose which are of value in terms of the achievement of the University's strategic objectives.
The role of the University Assurance Service in Value for Money work at the University
Value for Money (VFM) is a key area for the University. The HEFCE require the University Assurance Service to formally opine on the arrangements for efficiency and effectiveness at the University.
The University published its approved value for money policy and this can be accessed via the related link on this page.