Value for Money

Improve development effectiveness

This unique 5-day Value for Money training course gives you the tools and knowledge to maximise and embed value for money (VfM) approaches in your projects, programmes and organisation. You learn about best practice in economic theory as well as how to practically apply existing and emerging tools.

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Why choose this course

To develop and deliver this course, we partner with Nef Consulting, consultancy arm from the leading UK think tank NEF (New Economics Foundation). This partnership combines the technical know-how of nef consulting with IMA's extensive international development experience to deliver this unique course.

It is designed for development practitioners responsible for maximising VfM through all elements of programme and project design and delivery. Delivered by development economists nef consulting, you will benefit from the latest thinking on how to guarantee your activities deliver maximum value to your organisation and its stakeholders.

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.

Daily Course Objectives

Subject to change to reflect participants' needs.

  • 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.

What our participants say

"The simple and practical facilitation enabled me to grasp the VfM components. I leave with confidence and insights on how to apply VFM and will apply the principles in my project which are part of donor requirements."
Rabi Sani, Project Manager Mercy Corps, Nigeria

"I liked the coverage of key topics on VfM, mix of practical and theoretical content, and friendly, approachable style of trainers and mix of participants from diverse backgrounds. This training will be extremely useful to discuss and present VfM in my organisation."
John Lakeman,Monitoring and Evaluation Manager, CARE International, UK

"I particularly appreciate this course because the trainer had hands-on experience with the tools and models presented. This experience 'from the field' is great added value."
Blaise Burnier, Assistant Manager, PWC, Switzerland

"This training helped me look deeper into our VfM process and identify gaps we need to address. I learnt new practical concepts that I will use in assessing my programmes - great VfM!
Amina Baba Manu, Programme Manager, Action Aid, Nigeria

"I found the course incredibly interesting and it has really given me a different perspective on how we look at VfM and all that entails. Not only that, I had a great time with a fantastic group - thank you."
Sarah Jackson, Director, Finance and Operations, AIMS Next Einstein Initiative

Quick Facts

  • Duration:
  • 5 days
  • Venue
  • Date
  • Application Deadline
  • Fee
  • London
  • 15-19 Oct 18
  • 15 Sep 18
  • £2350
  • Tailor-made:
  • We run tailored VfM training as well, most recently for NDN in Oslo. To find out how this could help your organisation call us on +44(0)1273 833030 or complete the training enquiry form.
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