Flashcards in 13 Performance measurement in not-for-profit organisations Deck (4)
What are the three value for money elements?
What is meant by economy in the value for money elements?
An input measure. Are the resources used the cheapest possible for the quality required
What is meant by efficiency in the value for money elements?
Here we link inputs with outputs. Is the maximum output being achieved from the resources used
What is meant by effectiveness in the value for money elements?
An output measure looking at whether objectives are being met.