Assessing Value for Money: the Oxford Policy Management Approach

Assessing Value for Money: the Oxford Policy Management Approach

Issued in 2024

The Oxford Policy Management (OPM) developed practical guidance for assessing the Value for Money (VfM) of government- and donor-financed programmes and policy interventions. In line with OPM’s focus and mission, it has been predominantly applied in the international development sector, but the approach upon which it is based is also used in the context of domestic public policy and programmes.

Although the OPM's  approach presented in this guide combines economic and evaluative thinking to meet the requirements of the Foreign, Commonwealth and Development Office (FCDO's) requirements for evaluations (DFID, 2011a; 2020), it is also relevant to requirements of other development partners.

The document involves developing and implementing a framework for organising evidence, interpreting the evidence on an agreed basis, and telling a compelling performance story. It provides a transparent approach to making judgements from diverse evidence, which can include quantitative (economic and other indicators) and qualitative data.


Oxford Policy Management


  • Julian King, Daniel Wate, Esther Namukasa, Alex Hurrell, Frances Hansford, Patrick Ward and Shiva Faramarzifar