What is “Value for Money” really about?
Value for money is something that we all desire yet all too often this remains only a statement of hope.
To demonstrate value for money requires a comparison – something can only be seen as better (or worse) value for money relative to something else.
The Value Management process provides a robust way to both achieve and evidence better or even best value for money.
In Australia the Value Management process has robust structure and professional support available through:
- the Australian Standard for Value Management AS4183:2007
- the Institute of Value Management Australia Limited to assist and provide professional assurance to government, industry and the marketplace in their efforts to understand value and how to achieve best value for money.
The Institute of Value Management fosters a community of interest in value and value for money, establishes training templates, accredits the professional standing of specialist Value Management practitioners, demands the allegiance of professionals to codes of behaviour and practice, and strives to be the voice on value for money nationally.