Q. I’m sometimes asked to demonstrate how a change in business practice for my organisation represents value for money – what fa
28 August 2012
‘Value for money’ is a term that sometimes causes problems for although widely used, it is not always understood.
‘Value for money’ is a term that sometimes causes problems for although widely used, it is not always understood. In essence it is composed of three parts – Economy, Efficiency and Effectiveness.
Economy – in short often referred to as doing it cheap, doing it right, or doing the right thing! Economy is rather ill-served by this definition as...