- 20 Marks
FM – L2 – Q127 – Value for Money in Public Financial Management
Explain the concept of value for money in PFM and its elements with illustrations.
Question
(a) Value for money is critical in public financial management (PFM) and therefore every public policy and programme should be subjected to the value for money test.
Required:
(i) What do you understand by value for money in relation to PFM? (2 marks)
(ii) Explain, with illustration, the elements of value for money and their interrelations.
(b) The flagship programme of government is a Free Secondary Education Programme (FSEP) which aims at improving quality and access to secondary education through the removal of cost barriers.
Required:
Discuss steps that should be taken to ensure value for money in the implementation of the FSEP. (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Economy, Effectiveness, Efficiency, Equity, Free Education, Public Financial Management, Value for Money
- Level: Level 2
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