Knowledge and Resource Hub
04 January 2018

Evaluation and value for money.

This paper discusses the benefit of including a value for money assessment in  program evaluations. This involves a systemic assessment of whether an investment in a particular intervention represents good value. Assessments should  consider the program's value in relation to economy (costs of program inputs), efficiency (value of the program inputs in relation to total program cost) and the effectiveness of program outcomes in relation to the total program cost. A fourth dimension is sometimes added, equity, which relates to ensuring that program benefits are fairly distributed to participants, stakeholders and/or the community.