EURIM Value of Information Subgroup

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The importance of information, the current state of play

The Treasury, The Operational Efficiency Review, April 09

Launched on 3rd July 2008 and examined 5 key areas of operational spend across the public sector.  Across all 5 key areas of spend it highlighted the lack of robust and consistent management, making it hard to identify even existing costs accurately - making it difficult to establish trends, make comparisons and manage down costs. It concluded:

• What is not measured well, will not be managed well. In the private sector, improved management information drives improved cost control.

And identified 4 key themes across all 5 areas of spend, of which 2 are:

• Consistent, comparable data – organisations need to be able to benchmark against others to know whether the services they deliver constitute good value for money. Requires consistent, comparable data, which allows organisations to benchmark their performance and use both public and private sector best practice to raise their standards.
   
• Accountability and performance management – To maximise the benefits, and ensure these savings, there is a need for robust, proportionate accountability mechanisms. With consistent, comparable data, those who are currently under-performing can be identified and supported to improve quickly.