What you will learn? 

Through short presentations, participatory exercises and casestudies you will improve your knowledge and skills on:

• the rationale and main features of VfM
• how to apply a wide-range of VfM tools and techniques to manage your costs, improve efficiency and effectiveness
• how to embed VfM within the project cycle and M&E system
• how to communicate good VfM and influence management decisions for sustainability.

Day 1

Key features and trends in value for money (VfM)
 

• the main features and principles of VfM
• where VfM has come from and where it's going
• best practice in economic theory and tools for VfM
• overview of key players' roles and understanding of VfM for example DFID, UN, World Bank
• Economy, Efficiency and Effectiveness across the project and programme cycle

Day 2

Tools for VfM: measuring inputs, outputs and outcomes
 

• develop, understand and test your Theory of Change
• measure your outputs, outcomes and impacts
• measure and manage your costs and inputs
• understand the difference between financial and economic costs
• where to apply management costs within project design and delivery.

Day 3

Tools for VfM Part 1: measuring and improving efficiency and effectiveness
 

• understand and apply cost efficiency analysis
• understand and apply cost effectiveness analysis
• understand and apply multi criteria analysis and multi criteria decision-making
• introduction to modelling techniques for cost effectiveness analysis and multi criteria analysis

Day 4

Tools for VfM Part 2: measuring and improving efficiency and effectiveness
 

• understand and apply Cost Benefit Analysis (CBA)
• understand and apply Social Return on Investment (SROI)
• account for triple bottom line outcomes: social, economic and environmental
• valuing social and environmental impacts: theory and applications

Day 5

Embed and manage VfM
 

• prepare the ground for capturing VfM readiness
• embed VfM within M&E and results-based management systems
• align your organisational structures and resources to support improved VfM
• tools and techniques to communicate good VfM
• how to include VfM in managerial decision making
• VFM and you: the tools to best maximise the VfM in your organisation