KUALA LUMPUR (May 2): Censof Holdings Bhd's unit, Century Software (M) Sdn Bhd, has completed the outcome-based budgeting (OBB) project with the Finance Ministry.

To support the implementation of OBB, Censof Holdings said the Finance Ministry had embarked on the development of an integrated online information technology platform called MyResults to capture the mapping of programmes or activities, as well as the complete set of results frameworks.

"This online application is intended to eventually serve as a complete, integrated results and budget management information system," it said in a statement today.

Censof Holdings group managing director Ameer Shaik Mydin said the main emphasis under the OBB approach would be the effectiveness and overall impact on the projects and programmes as opposed to the expenditure and output.

"The focus on results and outcomes will now allow for better resource management, and this will subsequently provide greater value for money in terms of public investments and reduce ad-hoc spending," he said.

According to Censof Holdings, the OBB aimed at assisting the Finance Ministry to reduce wastage and ensure that the nation’s resources were optimised and allocated according to its priorities.