Value for Money (VfM) in DFID’s programme is about maximizing the impact of each pound spent to improve poor people’s lives. The purpose of the VfM drive is to develop a better understanding (and better articulation) of costs and results so that more informed, evidence-based choices can be made. This is a process of continuous improvement. Partner countries play a critical role in delivering results. For this reason they are supported to lead their own development. There’s an effort to try to work with the grain of the political process in achieving development and it is expected the same from partner organisations. Increased transparency and accountability in DFID’s operations will help to drive the VfM agenda and all staff need to be prepared to explain their VfM decisions publicly. All staff need to make VfM considerations central in deciding what it is done, how it is implemented and how lessons are learned. To maximise the impact of UK aid there’s a clear need to be very clear about the expected results (outputs and outcomes) to be achieved as well as the costs. DFID’s 3Es Framework is presented along with four examples. (Link)
United Kingdom Department for International Development (DFID). 2011. DFID’s (Department for International Development/UK) Approach to Value for Money (VfM). 15 p.