Value-for-Money

This podcast explores the concept of value for money (VfM) in terms of disaster risk management. It examines how to maximise outcomes while minimising costs, emphasising the need for a balanced approach that considers economy, efficiency, effectiveness, and equity. The text highlights the importance of using appropriate metrics to assess VfM, cautioning against relying solely on cost-per-beneficiary which can be a misleading metric. It proposes a 'five forces framework' to guide decision-making when prioritising humanitarian interventions, covering cost, quality, quantity, timeliness and appropriateness.