Duration: 2 days
Location: This Value for Money (VfM) two day course can be run either online or face to face. There is no strict limit on attendees, but we recommend no more than 10.
Understand how to improve VfM in your procurement processes and avoid common pitfalls that impact upon overall VFM. On this course you will develop the skills to:
- Choose the most suitable MEAT method for your procurement
- Learn how to get best value from your marketplace
- Understand what is required in advance of publishing if using RVfM/Willingness To Pay
The VfM course draws from contemporary practice from multiple sectors and is underpinned by technical analysis. By the end of the course, delegates will have an in-depth understanding of the options available when designing a tender evaluation focusing on the achievement of a Value for Money outcome. You’ll be able to understand how you might encourage bidders to provide better bids with the quality you value.
Who should attend?
Procurement professionals responsible for designing an evaluation that is focused on selection of the best VfM tender.
- How to determine financial value
- How to determine technical value
- Understand the balance between quality and cost to get Value of Money
- Identify potential dangers in relative scoring methods
- Understand how different MEAT methods can reduce certain behaviours
- How to test for gaming
- How to adjust for risk in evaluation
- What is value and what to consider when evaluating cost
- Value in technical evaluation vs cost evaluation
- Preparing your procurement
- VFM Context: Legislation, Policy, Perspective and the news
- How Value for Money is typically evaluated
- Understanding of MEAT Methods
For more information about our courses or to book, please get in touch below or see our Expert Training and Services datasheet for more training options. You can also read our blog posts ‘Value for Money – Keeping it real‘, touching on stopping bidders gaming the system and getting the value right value. Plus, ‘Weighting your criteria to achieve value for money‘ explaining how exactly the process works and the key benefits.
Bespoke Training for the UK MOD
Working for the UK MOD? We run a range of bespoke VFM training options for you, which includes a version of this course.