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Good value for money is the optimal use of resources to achieve the intended outcomes. ‘Optimal’ means ‘the most desirable possible given expressed or implied restrictions or constraints’. Value for money is not about achieving the lowest initial price. [Note] Assessing value for money Value for money and TSOs Notes Note: Regularity, Propriety & Value […]

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February 16, 2013

Good value for money is the optimal use of resources to achieve the intended outcomes. ‘Optimal’ means ‘the most desirable possible given expressed or implied restrictions or constraints’. Value for money is not about achieving the lowest initial price. [Note]


Notes

Note: Regularity, Propriety & Value For Money (pdf – 495KB), HM Treasury (2004)