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Module 7. Assessing value for money
Value for Money (VFM) systems are often among the least understood or developed components of the monitoring frameworks for market systems programmes. Nevertheless, a VFM system which is well-designed and generates appropriate information can make a valuable contribution to management decision making, providing information on which interventions are delivering value for money in terms of their economy, efficiency and effectiveness.
This section provides a practical insight into the design and use of a VFM system for market systems programmes. It begins by introducing the concept of value for money, drawing on the '4E' conceptual framework. It then provides advice on developing VFM metrics and in calculating programme costs, before highlighting how VFM data can be incorporated into programme management and reporting.