b Efficiency The efficiency with which a schools IT laboratory is used might be

B efficiency the efficiency with which a schools it

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government / local authority guidelines or with amounts spent by other schools. (b) Efficiency : The efficiency with which a school’s IT laboratory is used might be measured in terms of the proportion of the school week for which it is used. (c) Effectiveness : The effectiveness of a school’s objectives to produce quality teaching could be measured by the proportion of students going on to higher or further education. Performance measures 1. Value of money as a concept assumes there is a yardstick against which to measure the achievement of objectives. It can be difficult to determine where there is value for money. (a) Not-for-profit organisations tend to have multiple objectives , so that even if they can all be clearly identified it is impossible to say which is the overriding objective. (b) Outputs can seldom be measured in a way that is generally agreed to be meaningful. E.g. in the National Helath Service success is measured in terms of fewer patient deaths per hospital admission, shorter waiting lists for operations, average speed of patient recovery and so on. Value for money defined as the best possible combination of services from the least resources, in which maximising the benefits at the lowest possible cost.
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___________________________________________________________________________________________________________________ Page 21 of 21 IPK COLLEGE 1664, JALAN KULIM, 14202 BUKIT MERTAJAM, PENANG TEL : 012-5203212 / 0125113212 / 04-5512588 Subject: Financial Management (DFM1) Prepared by Susan Lim Email : [email protected] 3. Example: Performance measures Although output of not-for-profit organizations can be seldom be measured in a way that is generally agreed to be meaningful, outputs of a university might be measured in terms of the following: Broader performance measures Proportion of total undergraduate population attending the university (by subject) Proportion of students graduating and classes of degrees obtained Amount of private sector research funds attracted Number of students finding employment after graduation Number of publications/ articles produced by teaching staff Operational performance measures Unit costs for each operating ‘unit’ Staff: student ratios; staff workloads Class sizes Availability of computers; good library stock Courses offered
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