We have developed a number of approaches that support efficiency in the sector, and we have invested in pilot projects to encourage the adoption of good practice.
Our main areas of activity include:
Tools and research to identify efficiencies and control costs.
Funded activity to promote expertise in procurement across full range of goods and services.
Support for collaborative and co-operative activity in the sector that supports financial savings and improvements in performance.
Financial sustainability and TRAC (TRAC)
TRAC is the methodology used by higher education institutions in the UK for costing their activities.
University Modernisation Fund
The University Modernisation Fund is a £152 million initiative designed to support a sustained increase in student places at universities and colleges in a period of economic recovery by adopting greater savings and efficiencies.
We are supporting the work of the Efficiency Exchange as a means of sharing innovative ways to deliver greater efficiency that will enable high quality teaching, learning and research.
Innovation and Transformation Fund
The Innovation and Transformation Fund is a joint initiative by HEFCE and the Leadership Foundation for Higher Education to prepare universities and colleges for a period of change and transformation.