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1. Dictionary

   value for money

   • ▪ used in reference to something that is well worth the money spent on it

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2. People also ask

   What is good value for money?

   • This page is part of our successful commissioning toolkit. Good value for money is the optimal use of resources to achieve the intended outcomes. ‘Optimal’ means ‘the most desirable possible given expressed or implied restrictions or constraints’. Value for money is not about achieving the lowest initial price.

   Value for money - National Audit Office (NAO)

   www.nao.org.uk/successful-commissioning/general-principles/value-for-money/

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   What is achieving value for money?

   • Achieving value for money can be described as using public resources in a way that creates and maximises public value. The use of public resources is defined as public sector capital and resource expenditure, stewardship of assets, and raising revenue. Public value is defined as the total well-being of the UK public as a whole3.

   Value for money framework - GOV.UK

   assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/918479/value-for-money-framework.pdf

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   What is value for money?

   • ‘Value for money' is one of the key considerations of any decision involving the use of public funds across government. It is considered in the Economic Case of the ‘Five Case’ model of decision-making recommended by Her Majesty’s Treasury (HMT) and adopted by the Department for Transport (the Department) in the “Transport Business Case”1.

   Value for money framework - GOV.UK

   assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/918479/value-for-money-framework.pdf

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   What is value for money & why is it important?

   • Although the aim of value for money is to achieve an appropriate balance between the three Es, this can often be difficult to achieve. Each of the Es aims to achieve different – potentially conflicting – outcomes in an organisation.

   Value for Money (VFM) and performance measurement in not-for-profit

   www.accaglobal.com/gb/en/student/exam-support-resources/professional-exams-study-resources/p5/technical-articles/vfm.html

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3. www.accaglobal.com › gb › enValue for Money (VFM) and performance measurement in not-for ...

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   Learn how to measure and manage VFM in not-for-profit organisations, such as public sector services, using the three Es (economy, efficiency and effectiveness) and equity. See an exam question and answer on VFM in Deeland Police.

4. assets.publishing.service.gov.uk › governmentValue for money framework - GOV.UK

   assets.publishing.service.gov.uk › government

   This document explains how to use the appraisal results to provide value for money advice for transport proposals. It covers the principles, elements, categories, and reporting of value for money assessment, and provides useful resources and glossary.

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   • Page Count: 37

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6. www.gov.uk › government › publicationsGreen Book Supplementary Guidance: Value for Money

   www.gov.uk › government › publications

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   Mar 30, 2022 · Learn how to apply the Green Book method to achieve value for money in public spending decisions. See case studies, examples and advice on strategic and economic dimensions, un-monetisable factors and discounting.

   • Author: HM Treasury

7. www.nao.org.uk › assessing-value-for-moneyAssessing value for money - National Audit Office (NAO)

   www.nao.org.uk › assessing-value-for-money

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   Apr 1, 2019 · This page is part of our successful commissioning toolkit. The National Audit Office (NAO) uses three criteria to assess the value for money of government spending i.e. the optimal use of resources to achieve the intended outcomes: Economy: minimising the cost of resources used or required (inputs) – spending less; Efficiency: the ...

8. www.merriam-webster.com › dictionary › value for moneyValue for money Definition & Meaning - Merriam-Webster

   www.merriam-webster.com › dictionary › value for money

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   Aug 10, 2023 · The meaning of VALUE FOR MONEY is things sold at a good price. How to use value for money in a sentence. ... Share the Definition of value for money on Twitter Twitter.

9. www.felp.ac.uk › content › what-value-moneyWhat is value for money? | FELP

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   Value for money (VFM) is about achieving the optimum combination of whole life costs and quality. It involves economy, efficiency and effectiveness, and is often achieved by competition. Learn more about VFM and how to apply it in practice.

10. www.nao.org.uk › value-for-moneyValue for money - National Audit Office (NAO)

    www.nao.org.uk › value-for-money

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    Apr 1, 2019 · Value for money is the optimal use of resources to achieve the intended outcomes. Learn how to assess value for money and how it relates to Treasury's guidance on TSOs (total spending outcomes).