Value for Money in Terms of Public Procurement of Goods- Project

Added on - 23 Sep 2019

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VALUE FOR MONEY IN THE CONTEXT OF PUBLIC SECTORPROCUREMENT1
1.Executive SummaryThe idea of the project is to achieve quality in producing goods and services in order to achievevalue for money in terms of public procurement of goods and services. The various businessorganizations implement strategic ideas in order to engage more developed working practices,make new regulations and corporate strategies at the level of portfolios. It also sheds light onanalyzingextensive strategies, which need to take under consideration in terms of extensiveproject management in order to make less new work practices. Moreover, IT sectors have theopportunity to attain low value of human capital created due to the investments created throughgenerations in terms of science and technological education.2
Table of content1.Executive Summary.................................................................................................................22.Introduction..............................................................................................................................43.Discussion................................................................................................................................43.1Ideas related to the value for money for the benefit of public sector...................................43.2 Several factors related to performance of value for money fail................................................73.3 Approach for mitigating failure factors.....................................................................................83.4 Opportunities based on Value management............................................................................104.Conclusion..............................................................................................................................105.Recommendation....................................................................................................................10Reference list.................................................................................................................................123
2.IntroductionValue for money (VFM) indicates best combination of entire life cost and the standard level ofservices in order to meet the satisfaction of public. Current study or assignment illustrates onvalue, which is related to money (VFM), and it sheds light on VFM and it shows blank in theprocurement based on public. VFM varies on an individual project. In this context based on thesector of public, this should be rather than value for money based on public procurement shouldbe placed in straight line with the strategy of an organization. The assignment offers highlightingissues and examining by governments based on public. It also discusses value for money basedon expenditure, incorporated by the employees of this organization depends on the infrastructureof projects. Valuation for a monetary purpose is continuously increasing as interest in that sectoris based on public. Moreover, the approaches also based on procurement that is lowest and hasbeen left in the case of the approaches based on value.3.Discussion3.1Ideas related to the value for money for the benefit of public sectorValue for money (VFM) talks about not only the lowest possible amount of money rather it isrelated to gaining optimization in terms of compilation of all necessary revenues in associationwith owning a property as well as producing quality products and services. Though VFM wasknown to attain achieving exact quality of produced goods and services in a definite amount,within a stipulated time at desirable prices however the idea has been continuously updated inorder to obtain excellent choices of products in quantities more suitable and within time.4
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