Question

The Value for Money concept, simply explained, refers to the use of resources (money) to achieve organizational plans, policies and objectives (i.e. achieving Value). Value for Money (VFM) refers to three aspects of an organisation's activity performance: the economy of the activity, the efficiency of the activity and the effectiveness of the activity. A new E referred to as equity, concerned with the assessment of the value for money (spend fairly) has been postulated. Now known as 4Es.

Required: Using any public project /programme of your choice. Illustrate how the performance measures as enshrined in the value for money concept can be used in evaluating the Public project/ Programme.

Answer 1

Refer to the below images for the above mentioned requirement, in a detailed way of explanation.

choice Q - Using any public project/programme of your in Ghana Illustrate how the enshrined in valec concept can be used in eva evaluating performance measwees as for money the Public project / Programme = for this been question, Lets take example of PPP Project of Ghana Public Private Partnership Project in Ghana to illustrate how the performance are enshrined in value for money concr.ph can be used in evaluating Public Progest PPP os Public Private Partnership has long recogmorized effective way of procuring public infrastructure to deliver Value for money (UFM) It is common that effectiveness of PPP Project dep and ita application and execachive. But another factor in Vahe for money! because , echility doerved from every peor chase or every Bum bored on of money spent. It is also not only the minimum purchase price (economy) but also on the maximum efficiency and effectiveness

of purchase. Here inathin project we will use WFM indicatore to show how performance in concept can be used for this Public Private Project VEM inside in It unes to show ① Assesment of performance wing robust and relevant indicators, in Pis point the a to deliver the Help strengths ths and weakness in organisation. Just in our PPP Proxect of Ghana we first offer vFm & second is to help in selection of capable bidder who can provide Sweust way mto select a contractes (capable ) who has rechanical, managersal and financial strength Cance Cone essionaire, une cliente requirement at optimal Costa New, Ghana'n. артоа си, The PPP industry pooject in Ghana can he deseribed as sector without structures. Apart from of State at the Presidency in charge of peps, and a unit, which act gate keeper to provide advisory services and support to contracting to VEM Assessment Mininter @

authenties are a confused slate akust to how procure using the PPP route leto see VFM mesame in PPP profect VFM Measure AU فمها Degree of Subjectivity Cont Benefit Analysis beneftro monetised. Analysin presented as a ration of Benefits to-coara Compare clandardired measwee different investment. aeroon @ Cost Effectiveness Analysia Benefits not monetized but well desired and comparable with other projecta. Analysin presented as toata per- output figure ofor bell leftyned out these with comfanakorn, requence anglysis High 3) Cont - connequence Benefit ir not monetized. Range of benefits often resulting from a complex project, compared with overall project cond,