Transcription of ENSURING VALUE FOR MONEY - LMU
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ENSURING VALUE FOR MONEY - LMU
Munich Personal RePEc ArchiveMeasures of ENSURING VALUE for MONEY inPublic Procurement: A Case of SelectedPolytechnics in GhanaNsiah-Asare, Evelyn and Prempeh, Kwadwo BoatengDepartment of Purchasing and Supply, Sunyani Polytechnic, Ghana,Department of Accountancy, Sunyani Polytechnic, Ghana14 March 2016 Online Paper No. 70051, posted 16 Mar 2016 19:10 UTC 1 | Page Measures of ENSURING VALUE for MONEY in Public Procurement: A Case of Selected Polytechnics in Ghana Evelyn Nsiah-Asare1, Kwadwo Boateng Prempeh2 1(Department of Purchasing and Supply, Sunyani Polytechnic, Ghana) 2(Department of Accountancy, Sunyani Polytechnic, Ghana) Abstract : VALUE for MONEY (VFM) is derived from the optimal balance of benefits and costs on the basis of total cost of ownership.
the maximum benefit from the resources available (Barnett et al 2010). Value for money in ... initial price: it is defined as the optimum combination of whole life costs and quality. ... budgets, state foundation funds, domestic loans or foreign loans guaranteed by the state, foreign aid and revenue received from the economic activity of state. ...
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