Value for money – one of the pillars of the Corporate Strategy
Working efficiently means achieving maximum impact with the minimum of resources. Value for money is therefore one of the four pillars of GIZ’s Corporate Strategy. GIZ embraces a variety of approaches here, the goal being to achieve more results per euro invested.
Value for money in the Corporate Strategy
To ensure that as many people as possible have a future worth living, we must operate cost-effectively in the long term. Value for money is one of the four pillars of our Corporate Strategy 2017–2019. This requires us to use resources efficiently and responsibly.
We use key performance indicators and associated strategies to measure success. We have incorporated the following measures into our strategy in order to ensure cost-effectiveness and compliance in our work. This will enable us to maintain GIZ’s operational capability and long-term viability and therefore retain the trust of our Shareholder, commissioning parties and partners. Our focus is on:
- 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 level of standardisation, professionalisation and digitalisation of our processes. This will enable us to make our work more cost-effective and more efficient.
Why is value for money so important?
The principle of value for money demands that resources are not wasted. For us to be cost-effective, different options for actions are identified and are evaluated using a range of criteria. To maximise our impact, we seek to achieve the best possible cost-benefit ratio, not least with a view to sustainability.
Value for money: a guarantee for GIZ’s economic capability
By working efficiently at all levels, we:
- enable more international cooperation for each euro invested and increase our impact
- free up more resources for investments in key issues of the future
- increase our competitiveness, retain the confidence placed in us and secure 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. This requires as much transparency as possible with regard to how we deploy these resources. It is therefore extremely important to ensure that our considerations regarding value for money are clear and logical.