Together with lowest total cost of ownership, value for money is one of the most common goals for the procurement process, especially in the public sector.  The term is used to highlight that ‘lowest [..]

Definition A buyer's perception of the goods or services that they receive. A consumer can attest to value for money when they feel that they have received an item that was worth the price that t [..]

The procurement of a P3 project represents VfM when - relative to a public sector procurement option - it delivers the optimum combination of net life-cycle costs and quality that will meet the objectives of the project (Virginia Office of Transportation Public-Private Partnerships, 2011).

(VfM) The optimum combination of whole-of-life costs and quality of the good or service to meet the user’s requirements and not the choice of goods and services based on lowest cost bid, it extends be [..]

A measure of quality that assesses the monetary cost of the product or service against the quality and/or benefits of that product or service, taking into account subjective factors such as fitness for purpose, along with whole-of-life costs such as installation, training, maintenance and disposal, and wastage.

Term referring to judgement on whether sufficient impact is being achieved for the money spent.

Value for Money is a 1955 British comedy film directed by Ken Annakin, based on the novel of the same name by Derrick Boothroyd. It stars John Gregson, Diana Dors, Susan Stephen and Derek Farr.