Value for Money Assessment: Review of Approaches and Key Concepts
This publication has been prepared to contribute to and stimulate discussions on public-private partnerships (PPPs) as well as to foster the diffusion of best practices in this area.This report is part of EPEC’s work on ‘PPP Investment Planning, Programming, Project Selection and Preparation’ and responds to EPEC members’ requests with regard to mapping approaches to Value for Money (VfM) assessments. The report is structured as follows: Section 2 highlights some of the main concepts around VfM assessment and provides an overview of the context in which VfM assessment takes place; Section 3 contains overviews of the VfM guidance available in France, Germany, the Netherlands and the UK1 together with references to the main sources of guidance in each of these jurisdictions.
This report is mainly addressed to:
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− PPP policy-makers, for example those in PPP Units; and
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− public sector PPP practitioners, such as procuring authorities.
In countries with established PPP markets and a track record in VfM assessment, the information contained in this report may be useful when undertaking comparisons and reviewing their own VfM policies and guidance.
In countries with less experience in VfM assessment, this report may contribute to the development of VfM policies and guidance. In particular, it may assist in understanding the methodological options for key components of VfM assessment that are discussed in this report.
