Improve development effectiveness

This unique 5-day programme, delivered in partnership with IMA International, provides the tools and knowledge to maximise and embed value for money (VfM) approaches in an organisation, projects and programmes. You will learn about best practice in economic theory as well as how to apply existing and emerging tools to capture and manage for VfM.

IMA International is an international development business specialising in empowering development practitioners and organisations worldwide.

The course is aimed at professionals responsible for the maximisation of VfM through all elements of programme and project design and delivery.  It presents the latest thinking on how to guarantee that your activities deliver maximum value to your organisation and its stakeholders.

 What you will learn

Through short presentations, participatory exercises and case studies you will improve your knowledge and skills in the following areas:

  • The rationale and main features of VfM.
  • How to apply a wide-range of VfM tools and techniques to help manage costs, drive efficiency and ensure effectiveness.
  • How to embed VfM within the project cycle and M&E systems.
  • How to communicate good VfM and influence management decisions for sustainability.

What our participants say…

“The Value for Money course provided practical insights into an increasingly in-demand technical area. Great trainer and very engaging sessions.” Jasmin Yu, World Food Programme 

“NEF Consulting have been a joy to work with. They have developed a series of performance management tools which have been embedded within our existing data collection systems, combined with a coaching toolkit for practitioners. Our thanks to the team for their commitment.”
CEO, SustainAbility Ltd, London & New York

“I liked the coverage of key topics on VfM, mix of practical and theoretical content, and friendly, approachable style of trainers and mix of participants from diverse backgrounds. This training will be extremely useful to discuss and present VfM in my organisation.”
John Lakeman,Monitoring and Evaluation Manager, CARE International, UK

“I found the course incredibly interesting and it has really given me a different perspective on how we look at VfM and all that entails. Not only that, I had a great time with a fantastic group – thank you.”
Sarah Jackson, Director, Finance and Operations, AIMS Next Einstein Initiative

“The value for money training is targeted to really value the effectiveness of development outcomes.  IMA and nef consulting did a good job.  My expectations were met.  Thank you.”
Favour Simeon, Results Monitoring and Knowledge Management Advisor, GRM, Nigeria

“Overall great training: good coverage of key issues and methods and great facilitators.”
Tendik Tynystanov, Performance and Accountability Manager, British Red Cross, UK

“I now have a wider framework view and have been equipped with the tools to go deeper in to the analysis.”
Getinet Assefa Gadena, Executive Director, British Council, Kenya

“The Value for Money training is real ‘value for money’. The learning from this training has helped me look deeper into out VfM process and identify the gaps we need to address.”
Amina Baba Manu, Programme Manager, Action Aid, Nigeria

Daily course objectives

Day 1

Key features and trends in value for money (VfM)

  • The main features and principles of VfM.
  • Where VfM has come from and where it’s going.
  • Best practice in economic theory and tools for VfM.
  • Overview of key players’ roles and understanding of VfM (e.g. DFID, UN, World Bank).
  • Tools to drive, evidence and manage VfM in organisations and programmes.

Day 2

Tools for VfM: managing costs

  • Identifying unit costs and cost minimisation
  • Understanding the difference of financial vs economic costs
  • Maximising spending decisions through procurement
  • Where to apply management costs within project design and delivery.

Day 3

Tools for VfM: driving efficiency and effectiveness

  • Developing, understanding and testing your theory of change.
  • Tools and techniques for managing efficiency and input-output relationships.
  • Understanding and applying Cost Utility Analysis (CUA).
  • Where to apply efficiency measures within project design and delivery.

Day 4

Tools for VfM: managing efficiency and effectiveness

  • Understanding and applying Cost-Effectiveness Analysis.
  • Understanding and conducting Cost Benefit Analysis, including Social Return on Investment (SROI).
  • Accounting for triple bottom line outcomes: social, economic and environmental.
  • Understanding and applying Multi Criteria Appraisal.
  • Where to apply effectiveness measures within project design and delivery.

Day 5

Embedding and managing VfM

  • Preparing the ground to capture VfM readiness.
  • Embed VfM within M&E and Results-Based M&E systems.
  • Aligning your organisational structures and resources to support improved VfM.
  • Tools and techniques to communicate good VfM.
  • Managing for VfM: how to include VfM in managerial decision-making.
  • VFM and you: the tools to best maximise the VfM in your organisation.

Quick facts – booking details

Duration:  5 days

Venue: London    Date: 24-28 October 2022
Application deadline: 14 October 2022   
Fee: £2800 (excl. VAT).VAT may be added depending on where you live and status of your organisation.
For more information and all enquiries please go to the IMA International website.  Or you can call on on  +44(0)1273 833030 or email

Training Programme
Strategic overviews and practical training.

We offer tailored online and on-site training and briefings on Theory of Change, measuring social impact, commissioning for outcomes and social value, SROI, measuring local economic impact, community economic development, and more.

We also facilitate workshops to help you develop a Theory of Change for your programme or strategy. 

Clients include local authorities, universities, public health services, charities, community groups, membership bodies, and responsible businesses.

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by @nefconsulting