Developing Countries: Private Sector
Stephen O'Brien (The Parliamentary Under-Secretary of State for International Development; Eddisbury, Conservative)
The Department for International Development's (DFID's) work with the private sector ensures value for money by maximising the impact of each pound spent to improve poor peoples' lives. DFID ensures value for money throughout the full programme cycle, starting with the DFID business plan, results framework:
and operational plans:
DFID uses a value for money framework based on assessing the effectiveness and efficiency of all projects as well as ways to reduce the overall costs. The specific criteria for ensuring value for money at a project level are determined on a case-by-case basis. All proposals for DFID funding must be accompanied by a business case. This is the main record of the proposal, summarising value for money considerations and intended results. Indicators for tracking value for money are included in the logical framework, which is an annex to the business case. DFID's monitoring and evaluation processes include an annual review against the indicators in the logical framework and requires an assessment of whether a project remains good value for money. The project database:
provides access to business cases, logical frameworks and annual reviews.