The Value for Money and Policy Review Initiative is a systematic process of evaluation conducted by government departments and offices under the guidance of the Department of Public Expenditure and Reform. Its objectives are to analyse Exchequer spending in a systematic manner and to provide a basis on which more informed decisions can be made on priorities within and between programmes.
The outcomes of the reviews input into ongoing policy development and inform decision making within the relevant areas of the Department.
What changes have recently been made to the review process?
In October 2011, as part of a number of expenditure reform initiatives, the government decided to transform the Value-for-Money (VFM) framework in order to make it more effective in facilitating Departments, Ministers and government in allocating scarce resources across competing priorities in the context of the roll-out of the Medium-Term Expenditure Framework.
Included in this initiative was a general requirement that all VFM & Policy Reviews be completed within 3-6 months of initiation, an ongoing parallel evaluation role for the Central Expenditure Evaluation Unit of the Department of Public Expenditure & Reform, and that the VFM Framework would be consolidated into a modern “VFM Code” reflecting best international practice.
The Value for Money Review process is centrally co-ordinated by the Central Policy Unit, while the reviews themselves are carried out by the relevant line sections.
Address: Central Policy Unit, Department of Education and Skills, Marlborough Street, Dublin 1.
Phone: (01) 889 6439 / 6529 / 6549
Reviews completed are listed below