Value For Money

This unique 5-day Value for Money training course gives you the tools and knowledge to maximise and embed value for money (VfM) approaches in your projects, programmes and organisation. You learn about best practice in economic theory as well as how to practically apply existing and emerging tools.

Why choose this course

To develop and deliver this course, we partner with NEF Consulting, consultancy arm from the leading UK think tank NEF (New Economics Foundation). This partnership combines the technical know-how of NEF Consulting with IMA’s extensive international development experience to deliver this unique course.

It is designed for development practitioners responsible for maximising VfM through all elements of programme and project design and delivery. Delivered by development economists Nef Consulting, you will benefit from the latest thinking on how to guarantee your activities deliver maximum value to your organisation and its stakeholders.

Through a mix of practical activities, theory and case examples you will learn how to:

  • the rationale and main features of VfM 
  • how to apply a range of VfM tools and techniques to manage your costs and improve efficiency and effectiveness 
  • how to embed VfM within the project cycle and M&E system 
  • how to communicate good VfM and influence management decisions for sustainability.


Key features and trends in value for money (VfM)• the main features and principles of VfM
• where VfM has come from and where it’s going
• best practice in economic theory and tools for VfM
• overview of key players’ roles and understanding of VfM for example DFID, UN, World Bank
• economy, efficiency and effectiveness across the project and programme cycle
Tools for VfM: measuring inputs, outputs and outcomes• develop, understand and test your Theory of Change
• measure your outputs, outcomes and impacts
• measure and manage your costs and inputs
• understand the difference between financial and economic costs
• where to apply management costs within project design and delivery
Tools for VfM Part 1: measuring and improving efficiency and effectiveness• understand and apply cost efficiency analysis
• understand and apply cost effectiveness analysis
• understand and apply multi criteria analysis and multi criteria decision-making
• introduction to modelling techniques for cost effectiveness analysis and multi criteria analysis
Tools for VfM Part 2: measuring and improving efficiency and effectiveness• understand and apply Cost Benefit Analysis (CBA)
• understand and apply Social Return on Investment (SROI)
• account for triple bottom line outcomes: social, economic and environmental
• valuing social and environmental impacts: theory and applications
Embed and manage VfM• prepare the ground for capturing VfM readiness
• embed VfM within M&E and results-based management systems
• align your organisational structures and resources to support improved VfM
• tools and techniques to communicate good VfM
• how to include VfM in managerial decision making
• VFM and you: the tools to best maximise the VfM in your organisation

Learn in a way that suits your situation.

Find out more about our delivery methods:

Course Dates

Join us in London from the 24th October 2022! This course is also available as a tailored training for organisations, please get in touch to find out more.

Application Deadline
24 Oct 2022 - 28 Oct 2022
12 Sep 2022

Your questions answered

Are our training courses accredited?

As a training provider we are accredited by British Accreditation Council (BAC). This accreditation is recognised worldwide by agents and government officials as a clear indication of educational quality. We are inspected annually to ensure our high levels of training and facilitation are maintained.

Have a Question?
Why not call and speak to a member of our team. We are always delighted to talk with past or potential clients, and we can talk with you about your specific interests and questions.

Sign up for more Information

Get in touch today!
+44 1273 833030
IMA International, Drummond House, 89 High Street, Hurstpierpoint, West Sussex, BN6 9RE, United Kingdom

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