Optimum Utilisation of Resources
THE CAISSE’S APPROACH TO THE OPTIMAL UTILIZATION OF RESOURCES
PREAMBLE
The initiatives of the Caisse with regard to the optimal utilization of resources are taken within the context of: / The Caisse’s mission, which consists of managing depositors’ funds in order to achieve an optimal return on capital within the framework of depositors’ investment policies while at the same time contributing to Québec’s economic development; The Caisse’s ambition to become recognized as a benchmark organization among institutional fund managers, particularly by exercising leadership in the fields of governance and integrated management and by keeping in mind: The Caisse’s structures, activities and ways of conducting business; The relevant work performed by Internal Audit.
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WHAT IS MEANT BY OPTIMAL UTILIZATION OF RESOURCE?
The closest reference to the expression "optimal utilization of resources" is "value-for-money". According to this universally-recognized concept, all business processes are characterized by the use of a group of inputs (resources), which are transformed (activities) into outputs (results). The optimization of resources is based on three characteristics: economy, effectiveness and efficiency. The economy of resources consists of acquiring resources of the required quality, at a reasonable cost and in a timely manner. The effectiveness of resources is aimed at ensuring the adequacy of resources relative to business needs and their appropriate use. The efficiency of resources is measured by the attainment of an organization’s business objectives.
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OPTIMAL UTILIZATION OF RESOURCES AT THE CAISSE
The Caisse’s Board of Directors and senior management are committed to ensuring that: / The Caisse’s strategic orientations, business plans, administrative management, operational and control practices as well as systems and tools are established or designed so that their implementation generally allows the organization to achieve the results it seeks, which is
PREAMBLE
The initiatives of the Caisse with regard to the optimal utilization of resources are taken within the context of: / The Caisse’s mission, which consists of managing depositors’ funds in order to achieve an optimal return on capital within the framework of depositors’ investment policies while at the same time contributing to Québec’s economic development; The Caisse’s ambition to become recognized as a benchmark organization among institutional fund managers, particularly by exercising leadership in the fields of governance and integrated management and by keeping in mind: The Caisse’s structures, activities and ways of conducting business; The relevant work performed by Internal Audit.
/
WHAT IS MEANT BY OPTIMAL UTILIZATION OF RESOURCE?
The closest reference to the expression "optimal utilization of resources" is "value-for-money". According to this universally-recognized concept, all business processes are characterized by the use of a group of inputs (resources), which are transformed (activities) into outputs (results). The optimization of resources is based on three characteristics: economy, effectiveness and efficiency. The economy of resources consists of acquiring resources of the required quality, at a reasonable cost and in a timely manner. The effectiveness of resources is aimed at ensuring the adequacy of resources relative to business needs and their appropriate use. The efficiency of resources is measured by the attainment of an organization’s business objectives.
2
OPTIMAL UTILIZATION OF RESOURCES AT THE CAISSE
The Caisse’s Board of Directors and senior management are committed to ensuring that: / The Caisse’s strategic orientations, business plans, administrative management, operational and control practices as well as systems and tools are established or designed so that their implementation generally allows the organization to achieve the results it seeks, which is