Value for money
Value for money performance has been identified by the Omani Government as a priority area for securing efficiency improvements and releasing resources for use in delivering front-line services. It has been stated that value for money performance assessment in public sector organisations in the Oman has been varied across regions and projects, bordering on inefficiency and ineffectiveness.
As a consultant project manager write a report to the Omani’s public sector project monitoring agency (department, ministry, etc) that:
- Explains the concept of value for money in the context of public sector procurement
- Outlines failure factors in value for money performance assessment and attainment of public sector infrastructure procurement in Oman
- Outlines an approach(solutions) that mitigates failure factors outlined in part 2
- Describes briefly and specifically the opportunities for value management in the strategic and project briefing of a public sector infrastructure project to be procured as a design and build project.
Maximum 2500 words
Note: The professor is very strict on grammar.
Answer preview
Value for money is a term that is used to describe the return that an investor, agency, state or an individual gets from the money they spend. In business, it is always the primary aim to get a return on investment on every coin that is spent through the different projects that one engages in. Many governments around the world plan during their budgeting on how they will spend their money through the development of the state of the nation (Pigou, 2017). After the disbursement of their money, they then conduct a follow up to make sure that the money did not go into waste and it was utilized to the fullest. For so long the Oman government have been releasing money for the procurement of different project, and therefore they need to have an account of how the money…
(2500 words)