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The Concept of Value for Money

The Concept of Value for Money The Concept of Value for Money VFM in everyday life is easily understood not paying more for a good or service than its quality or availability justify. In relation to public spending it implies a concern with economy cost minimisation, efficiency output maximisation and effectiveness full attainment of the intended results. But what values are realised by the activities of public sector organisations Whose values are they and how are they to be measured The practical conclusion is that policy makers must frame precise aims so that at least there are some criteria with which to compare results. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Public Sector Management Emerald Publishing

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References (4)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0951-3558
DOI
10.1108/eb002926
Publisher site
See Article on Publisher Site

Abstract

The Concept of Value for Money VFM in everyday life is easily understood not paying more for a good or service than its quality or availability justify. In relation to public spending it implies a concern with economy cost minimisation, efficiency output maximisation and effectiveness full attainment of the intended results. But what values are realised by the activities of public sector organisations Whose values are they and how are they to be measured The practical conclusion is that policy makers must frame precise aims so that at least there are some criteria with which to compare results.

Journal

International Journal of Public Sector ManagementEmerald Publishing

Published: Jan 1, 1988

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