What do we mean by Value for Money (VfM)?

This guidance seeks to ensure that UK Aid Direct applicants and grant holders understand what the Department for International Development (DFID) means by Value for Money (VfM), and more specifically:

• The terms that relate to VfM in UK Aid Direct guidance and templates

• The key principles for understanding VfM in any context

• How to use VfM during programme design and implementation.

We have also outlined some common VfM misconceptions and VfM considerations during the application process.