Pillars For Successful Value For Money Evaluation

This resource is being showcased in the Evidence & Impact Summit.

Value for Money (VfM) is about finding the right balance between economy, efficiency, and effectiveness. VfM is seen as an appropriate framework for measuring performance in a not-for-profit organisation as it tracks programme impact (effectiveness), at the lowest cost possible (economy) and the achievement of programme goals at the lowest cost possible (efficiency). VfM means that programme funds are utilised in an optimum fashion, allowing for financial savings that can be used to replicate impact. At each stage of the programme theory, VfM should be mainstreamed to ensure cumulative VfM as project end.