VALUE FOR MONEY ASSESMENT PRACTICE IN PROJECT MANAGEMENT

INTRODUCTION

This course helps those with limited experience of using value for money techniques when designing programs and preparing proposals and budgets for institutional donors.

TARGET AUDIENCE

This course is suitable for people who are new to or have little experience in managing and measuring VFM in program design, proposal writing and the preparation of program budgets.

DURATION

5 Days

OBJECTIVES

v  Why VFM is important to project management

v  Donors' approach to VFM 

v  Analyzing the VFM of different program design options

v  Managing key drivers of VFM, including risk

v  Calculating unit costs and linking these to outputs and outcomes

v  Measuring, comparing and reporting on VFM

v  The challenges of hard to measure benefits, leverage, and sustainability

v  Addressing VFM in proposals and reports to other donors

v  Preparing a VFM action plan

COURSE OUTLINE

Key features and trends in value for money (VFM)

v  The main features and principles of VFM.

v  Where VFM has come from and where it’s going.

v  Best practice in economic theory and tools for VFM.

v  Overview of key players’ roles and understanding of VFM e.g. DFID, UN, World Bank).

v  Tools to drive evidence and manage VFM in organizations and programs.

Importance of VFM assessment 

v  How donors approach VFM

v  Public perceptions of aid and VFM

v  Who counts – what about the beneficiaries?

v  Internal drivers

v  Partner perspectives

Tools for VFM: driving efficiency and effectiveness

v  Developing, understanding and testing your theory of change.

v  Tools and techniques for managing efficiency and input-output relationships.

v  Understanding and applying Cost-Utility Analysis (CUA).

v  Where to apply efficiency measures within project design and delivery.

Tools for VFM: managing efficiency and effectiveness

v  Understanding and applying Cost-Effectiveness Analysis.

v  Understanding and conducting Cost-Benefit Analysis, including Social Return on Investment (SROI).

v  Accounting for triple bottom line outcomes: social, economic and environmental.

v  Understanding and applying Multi-Criteria Appraisal.

v  Where to apply effective measures within project design and delivery.

Planning: considering VFM in program design

v  Using the theory of change and stakeholder analysis to generate options in program design

v  Using options analysis to make a business case

v  Identifying the key components of VFM

v  Risk analysis and pricing risk

v  Valuing leverage and sustainability

v  Addressing VFM in proposals to donors

Implementing: ensuring VFM during project implementation

v  Activity-based budgeting and calculating unit costs

v  Linking unit costs to outputs and outcomes

v  Identifying and improving decision-making processes which add or destroy value: partner selection; procurement; monitoring and evaluation; budget management; risk management

v  Reporting on the management of VFM

Reviewing: evaluating and reporting how VFM is achieved

v  Identifying indicators and measurement processes

v  Comparing and explaining different results

v  Estimating the hard to measure benefits

v  Reporting on the measurement of VFM

 Action planning: engaging your organization in developing a value for money action plan

v  Developing a SWOT for your organization in relation to VFM

v  How to engage key stakeholders in developing an organizational action plan on VFM

v  Overcoming obstacles

 REQUIREMENTS

Participants should be reasonably proficient in English. Applicants must live up to Afriex Training Ltd admission criteria.

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English

TRAINING VENUE, LOGISTICS AND PAYMENT

v  Training is residential and will be held at Afriex Training Centre.

v  The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.

v  Accommodation and airport transfer are arranged upon request by the participant.

v  This training can also be tailor made for your institution upon request. You can have it delivered in our training Centre or at a convenient location.

v  Upon successful completion of this training, participants will be issued with an Afriex Training Ltd certificate

 

No. of Days:

5