The strategy document should contain a relatively small number of aims supported by objectives. The aims may be as simple as:
- To ensure value for money is achieved through the efficient and effective use of the institution's resources.
- To develop a strong procurement function that has the visible support of the institution's senior management.
- To ensure probity and regularity in the institution's procurement activities.
The objectives should be SMART providing guidance of what is to be completed and how their achievement can be measured. This original acronym has been extended to SMARTIES to reflect modern standards - each letter standing for an attribute that the objective should have:
- Specific - what is the intention of the objective'
- Measurable - can the outcome be measured - how'
- Achievable - can the objective realistic be achieved?
- Realistic/Relevant - is it realistic to expect to achieve the stated objective and is it relevant to the institution's strategic aims?
- Time-based - when is the objective to be achieved/completed?
- Intelligent - does the objective make sense?
- Environmentally Aware - are there environmental implications?
- Sustainable - if achieved, can the end result be maintained?