Value for money is a prerequisite
Value for money, quality, efficiency and innovation are at the heart of GIZ’s activities. We always strive to achieve the optimal sustainable cost-benefit ratio in everything we do.
Economic efficiency requires that we achieve maximum impact with the minimum of resources. Cost-efficiency is thus one of the four pillars of GIZ’s Corporate Strategy. GIZ embraces a variety of top-level measures to achieve it. The goal: more results per euro invested.
VALUE FOR MONEY IN GIZ’S CORPORATE STRATEGY
To enable a future worth living for as many people as possible in the long term, we must be cost-effective. This issue is one of the four pillars of our Corporate Strategy 2017–2019. We ensure value for money by using resources efficiently and responsibly.
We also use key performance indicators and associated top-level measures to ensure value for money. For the coming years, we have defined top-level measures to safeguard the cost-effectiveness and compliance of our work. This will enable us to secure the performance and long-term viability of GIZ, and hence the trust of our shareholder, commissioning parties, clients and partners. These top-level measures are:
- Increasing the efficiency of company-wide processes
- Mainstreaming and institutionalising compliance and further developing risk management
- Strengthening sustainable business practices and sustainability performance.
We must satisfy the requirements of a differentiated and complex portfolio of services. To do this, we are focusing on increasing the standardisation, professionalisation and digitalisation of our processes. This will enable us to make existing processes not only more cost-effective, but also more efficient.
WHY IS VALUE FOR MONEY SO IMPORTANT?
The principle of cost-effectiveness demands that resources are not wasted. For us to be cost-effective, different options for achieving those actions must be identified and evaluated based on the principle of value for money. To maximise our impact, we seek to achieve the optimal sustainable cost-benefit ratio.
VALUE FOR MONEY: A GUARANTEE FOR GIZ’S ECONOMIC CAPABILITY
By ensuring cost-effectiveness at all levels, we:
- Enable more international cooperation for each euro invested and increase our impact (more value for money)
- Free up more resources for investments in future issues
- Increase our competitiveness, thus safeguarding demand for our services in future.
Since GIZ is a public-benefit federal enterprise, we have a special duty to use the resources entrusted to us responsibly.
GIZ annual report of the year 2018: 2018 Annual Statement of Accounts
We work to shape a future worth living around the world. Value for money is a key pillar of our corporate strategy: Our Corporate Strategy.