Not just money… Investment

Too many value-for-money assessments focus on the costs of inputs and outputs but struggle with the value of outcomes and impacts. Let’s change that.

Value for Money (VfM) is a familiar term.

We hear politicians say it. We see it in evaluation terms of reference. We might say it ourselves when we’re making a big purchase.

But what does it mean?

I define VfM as good resource use.

Various organisations around the world have their own working definitions of VfM, examples of which I’ve compiled here for y…