Value for Money. Each Candidate Scheme must demonstrate value for money i.e. the optimal use of resources to achieve the intended outcomes. The National Audit Office use three criteria to assess value for money: economy – minimising the cost of resources used or required – spending less; efficiency – the relationship between the outputs from goods or services and the resources to produce them – spending well; and effectiveness – the relationship between the intended and actual results of public spending – spending wisely. In basic terms value for money is the degree to which benefits exceed costs and the use of HM Treasury’s Green Book and Business Case Appraisal process in assessed Candidate Schemes is expected to demonstrate the potential value of any scheme. The Candidate Scheme business case is also expected to refer, where appropriate, to guidance on value for money and other benefits specific to the nature of the proposed scheme, this will include demonstrating social return on investment and local multiplier benefits. The business case may also highlight how the schemes procurement might improve economic, social and environmental well-being of the region and how such improvements might be secured in its implementation. The Regional Cabinet when deciding on whether to support a Candidate Scheme will take a wide range of evidence into consideration in addition to the level of value for money. There may be occasions when, although the measure of value for money is low, due to the wider regional economic impacts on the Regional Economic Strategy targets, cost effectiveness, environmental and social impact, and leverage of additional funding the Candidate Scheme will be supported.
Value for Money. 4.1 The Contractor undertakes to make all reasonable efforts to ensure that all goods and Services purchased in support of this Contract are purchased at the best possible market price, in line with the Authority‟s requirements to ensure „value for money‟. For the purpose of this Contract, „value for money‟ is defined as the optimum combination of whole life costs and quality to meet the Authority‟s requirements.
Value for Money. Value for money, as judged by balancing price against quality in relation to the NHS and the cost and improvement agenda specifically.
Value for Money. 11.1 The Recipient must maximise value for money and shall act in a fair, open and non-discriminatory manner in all purchases of goods and services and shall comply with its internal procurement and contracting rules where applicable.
Value for Money. 13.1 The procedure by which WEPCo shall produce evidence as to whether or not its proposals in respect of a New Project which is a Qualifying Project deliver value for money is as set out in Schedule 5 (Approval Process for New Projects), Schedule 6 (New Project Pricing Report) and the relevant provisions of Section 5B (Partnering Services Method Statements - Project Development Partnering Services) of Schedule 3 (Partnering Services).
Value for Money. The Contractor and the DCC shall comply with their respective obligations, and may exercise their respective rights, under Schedule 7.3 (Value for Money). SECTION H: CONTRACT GOVERNANCE
Value for Money. If the Contractor does not intend to use its own resources to implement any Change, it shall comply with Good Industry Practice with the objective of ensuring that it obtains best value for money when procuring any work, services, supplies, materials or equipment required in relation to the Change.
Value for Money. Has the project provided good value for money, and if so how? Insert text
Value for Money. The Parties shall comply with their respective obligations set out in Schedule 7.3 (Value for Money Provisions).
Value for Money. Both parties are required to obtain value for money. DH should ensure that services provided by HMPS represent good value for money against its budget, aims and objectives. HMPS should ensure that charges made to DH allow for the recovery of actual costs of the healthcare service delivered, in accordance with Treasury guidance, and that funds received from DH, are used to best effect, and propriety and regularity of expenditure is observed.
