This paper provides an organising framework that attempts to provide a means to better understand, express and enable judgements to be reached on Value for Money (VFM) in development programmes.
The framework is based on, but evolves around the 4Es approach (Economy, Efficiency and Effectiveness and Equity). It aims to do two things: bring the dimensions of value and money together consistently in the way VFM is considered; and introduce two ways to categorise VFM indicators to help assess their utility in managing and measuring Value for Money.
Key findings: