Value for Money
Understand and debate the conceptualisation and application of Value for Money at programme and organisational levels
In recent years, there has been a strong push from the UK Government on Government Agencies, including the Department for International Development (DFID), to demonstrate their Value for Money (VfM). This has impacted on DFID’s expectations and requirements of the organisations that they fund. As a result, there has been an increased focus on the demonstrable results of programmes and greater accountability of how funds are used. Value for Money has become a key focus for donors globally and it is essential that INGOs respond to this demand and use this opportunity to ensure that their projects are as economic, efficient and effective as possible, through an equitable process.
The VfM group provides a platform to to pursue this goal. More specifically, the group aims to achieve the following objectives:
- To facilitate communication of VfM approaches that is well informed, evidence-based and current.
- To develop, and publish a joint learning document that captures the different approaches and methodologies different organisations are taking to Value for Money.
- To inform the wider discussions about VFM as it relates to DFID funding and programmes; to help make it grounded, practical and proportional.