Value for money=Effectiveness, Efficiency, Economy, Equity in utilizing resources.
This article defines Value for money (VFM) as the effectiveness, efficiency, economy and equity in utilizing resources. Another way to define VFM is to consider if the resources used were inadequate, adequate or excessive.
Infrastructure and construction projects are implemented mainly through phases of planning, design, construction/manufacturing/ production and maintenance. Other sub-phases such as procurement of consultants and contractors are within these. The author shows that VFM is lost in each of the phases, but mostly at the phase of planning for the needs or carrying out (pre)feasibility studies.
In volumes 2 and 3 of the Digest, the author shows how Ugandans lost VFM using the Northern Bypass and the Kampala-Entebbe Highway Express. In both examples, VFM was mainly lost at the planning stage. The Southern Bypass should have preceded the Northern Bypass and this anomaly affected the effectiveness, efficiency and economy of both projects. In Volume 4, the author shows how poor construction and maintenance affected the Northern Bypass. Further discussions are given.