Exploring the simplicity and the detail of Value for Money concepts and analysis – to allow a creative and technically sound understanding that will allow VfM to be a vibrant and effective way of looking at your work

Value for Money

What does it mean? Why do you care? How to achieve it!

One day training course

London: 22 April 2020 and Sheffield: 26 March 2020 (Click on date to book)

Who is this training for?

This training is for anyone who wants to embrace the notion of Value for money, make that operational and embed the VfM perspective in the work that they do.

Anyone who already has to work within a context of demonstrating or talking about VfM within their organisation or to (potential) clients, stakeholders or others.

Those who need to understand the concepts around VfM for accountability, business or to persuade others.

What is the aim of the training?
In almost any situation the concept of gaining Value for Money is an important one. This is inherently important but is also often needed for accountability or reporting purposes. This training allows delegates to understand and work with a range of VfM concepts and better understand which elements to apply, when and how.

This means that delegates will be able to create or shape the systems within their organisation towards achieving and demonstrating VfM to lead to improvement at all levels. They will have the tools to do this and the vocabulary and understanding to explain it to others.

What will you will learn?

  • Key concepts behind VfM and its associated topics such as outputs and outcomes, cost-benefit and affordability
  • The importance of strategic thinking about VfM
  • Proper systematic use of VfM ideas to reach conclusions
  • A standard VfM framework and some other different VfM approaches
  • How to engage with evidence and what other skills may be needed to address VfM questions
  • How to communicate VfM to different audiences

You will leave the course ready to apply immediately a new perspective on what you do every day. You will be equipped to think about VfM in a practical and creative way and have learned to explain and demonstrate VfM ideas to others, talk about how they are being applied and the results.

Practical details

This training is a one-day course held in Central London, Sheffield or Edinburgh.

Current dates: London: 22 April 2020 and Sheffield: 26 March 2020 (Click on date to book)

Training runs from a 0900h registration starting at 0930h prompt, breaking for lunch at 1245h and finishing at 1630h. There are breaks in morning and afternoon according to the programme and courses involve breakout or discussion sessions to aid concentration and optimise learning.

The cost is £425 per delegate. Discounts may be available for non-profits, SMEs and multiple delegates.

This training is also available as in-house sessions. Costs are negotiable (but always give a discount on the individual delegate rates) and can include tailoring course material to specific requirements.

Course content

Learning objective

To appreciate and apply VfM concepts to a range of situations. To set up the right questions around value for money and use VfM approaches to answer these questions appropriately and in a feasible and meaningful way. To be able to communicate to a range of audiences on VfM issues.

Overall outline
What is VfM? Who is in the room today? The 3E model?

Framing a meaningful question: how to create a proportionate VfM approach

The key VfM concepts: inputs, costs, outputs, outcomes, impacts

The art of the possible: How to assess limitations and opportunities when handling VfM questions

Simplicity and communicating VfM: Taking the VfM concept to its simplest to communicate effectively

Cost-benefit analysis: an introduction to the core VfM tool

Looking back: checking back to see how the tools and ideas relate to delegates’ contexts

Take-away points and tomorrow’s changes

Course detail

Morning sessions

What is VfM?

Who is in the room? Delegates will be able to share why they are there and what they hope to get out of the day. The relevance and applications of Understanding Performance at the individual, team and organisation level will be explored through the examples of delegates’ own working contexts.

The 3E model: does it apply to you? The 3E model of economy, efficiency and effectiveness is explained and explored in the delegates’ own contexts.

Framing a meaningful question

How to create a proportionate VfM approach by considering the fundamentals of why VfM is important and how its meaning and use vary.

The key VfM concepts

The classic VfM concepts of inputs, costs, outputs, outcomes and impacts are introduced. A table exercise and debrief to explore the importance of starting VfM work at the strategic level.

The art of the possible:

An examination of commonly used tools in the VfM arena, understanding where and how they are applied and their limitations. How to assess limitations and opportunities when handling VfM questions.

Afternoon sessions

Simplicity and communicating VfM

This first afternoon session moves away from technicality to take the VfM concept to its simplest level. Exploring with delegates examples and case studies how simple VfM analysis can be and still keep its power. Why this is often the best starting (and sometimes endpoint) when communicating VfM.

Cost-benefit analysis

An introduction to the core VfM tool of CBA and a short exercise to explore the many levels of complexity that can be layered into analysis.

Looking back

An interactive session using small groups. Checking back to see how the tools and ideas relate to delegates’ contexts.

Take-away points and tomorrow’s changes

This final session will be an interactive session to create a list of take away points for delegates. Delegates will also be encouraged to note down “tomorrow’s changes” as to what they will do when they go back to work to start using the learning that they have gained during the training.

London: London: 22 April 2020 and Sheffield: 26 March 2020 (Click on date to book)