accordgroup.org.uk /value-for-money
Registered
providers shall:
“Have
performance
management and
scrutiny functions
which are effective
at driving and
delivering improved
VFM performance.”
28
Accord Group
How Accord Group delivers against these requirements
n The Board and the Executive team receive reports to measure and scrutinise performance in the
context of agreed targets.
n The Group’s Performance Audit function undertakes a series of reviews as part of an approved
plan of work as identified by the Finance, Risk and Audit Committee. These reviews identify where
appropriate, performance improvement observations and recommendations and improvement in
internal controls. An additional layer of challenge and scrutiny is provided by the FRAC.
n In addition to servicing the Group with performance management data, the Performance and
Quality team undertake interventions where operational performance is less than expected, in
order to drive improvement and challenge at operational level.
n Performance data including trend analysis and cause and effect assessments are presented to the
Executive Board and Directors Group regularly.
n Monthly management accounts are prepared and scrutinised at a corporate, management and
budget-holder level.
n The Group has an embedded, mature and agile approach to risk management, owned at a Board
level which includes regular reviews of risk appetite.
n People management processes include an appraisal framework which measures performance
against agreed objectives. These link back to Group business plan strategic objectives, ensuring
there is a clear line of sight between corporate and personal objectives.
n A Board approved VFM strategy and implementation plan is in place to ensure delivery of key
objectives. The VFM strategy has clear alignment to the Group business plan objectives and is
reported to Board.
n Contract management and review processes are in place to assess spend and quality
managemen t matters. To ensure full value added is driven from all outsourcing arrangements,
contracts are managed closely by senior management colleagues.