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VALUE FOR MONEY REVIEW OF THE FOOD INSTITUTIONAL RESEARCH MEASURE (FIRM) 2007 TABLE OF CONTENTS Executive Summary Page Number 5 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Chapter 1. Introduction to the Review The
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Value for money review is an assessment of whether a project or investment provides the best possible value in terms of cost and quality.
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Government agencies, organizations, or entities that are involved in projects or investments that involve public funds are typically required to file value for money reviews.
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Value for money reviews are typically filled out by evaluating the project's objectives, costs, benefits, risks, and comparing these factors to determine if the project represents good value for money.
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The purpose of value for money review is to ensure that public funds are being used efficiently and effectively, and to provide accountability and transparency in the decision-making process.
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Information such as project objectives, estimated costs, potential benefits, risks, and comparisons to similar projects or investments must be reported on value for money reviews.
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