Reviewing Resources
The partnership is required to have arrangements to ensure that they assess the economy, efficiency and effectiveness (the three E’s of Best Value) of the money that they spend carrying out their business. We see this as part of a broader approach to ensure that there is an awareness of the need to consider the cost effectiveness and cost benefit of their work
This should be a major consideration in the planning and budgeting processes at all levels in the partnership. It can be considered and documented as part of the justification for all schemes, decisions made and projects. Partnerships may decide to include a section on cost benefit in any project proposal. Similarly, any review process and/or each planning round proposal could identify how any decisions made will have met the requirements.
Regular reports produced to as part of the performance management framework could also incorporate information on cost benefit or cost effectiveness. This report should concentrate on identifying those initiatives already under way or planned for futures that are likely to secure significant gains in efficiency, effectiveness or economy.
