1 / 17

Value for Money

Understand the concept of Value for Money (VFM) in development projects, donor expectations, and strategies for achieving cost-effectiveness and efficiency. Learn how to track VFM for better outcomes and economic justice.

ecarrington
Download Presentation

Value for Money

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Value for Money

  2. Exercise • Think of one action you have taken recently in your life that represents VFM. • Why would you regard this as VFM • What do you understand by VFM

  3. Donor expectations • When the Secretary of State wrote to you early last year informing you of her decision to extend PPA funding, she emphasised the importance of achieving significantly improved results and value for money.  I recognise and appreciate what you have achieved so far, but would like to encourage you to go even further during the extension period.

  4. Donors cont • DFID has a clear monitoring process in place for this work and you should ensure that you can deliver on your identified targets. The lessons learnt throughout the period of the PPA funding will inform any future funding arrangements.

  5. Donors cont • I am committed to ensuring DFID Civil Society funding achieves the best possible results for poor people worldwide and represents good value for money.

  6. Value for money “Value for money is the best use of resources to deliver the desired impact.” Independent Commission on Aid Impact (ICAI) 2011 “Value for Money (VfM)…is about maximising the impact of each pound spent to improve poor people’s lives.” DFID‟s approach to VfM 2011

  7. Global Cross cutting themes: Climate Change and Economic Justice Regional National Local/ institutional

  8. VFM and the results chain ECONOMY EFFICIENCY EFFECTIVENESS

  9. Exercise.. How can GL be more economical

  10. VFM tracking – economy

  11. Exercise.. How can GL be more efficient

  12. Unit cost analysis- summit

  13. Unit cost .. Cascading to district

  14. Effectiveness Scenario one 15 COE; stage 7 and 8; each stage costs R2000 Person days = 15 x 4 = 60 @ R2000/day Scenario two Participants brought together 15 x 20 x 2 days x R 100 each Person days 2 pp x 3 days @R2000. Which is more efficient Which is more effective Why

  15. Examples of more effective programming

  16. GL VFM Tracking - leveraging

  17. GL Tracking tools

More Related