Value for Money Training
This is the second installment of a national training, that is being supported by UNICEF
As the scarcity of resources continue to present clear and present challenges to companies/organizations the world over effective and prudent management of available resources is paramount to the sustainability of programmes and services. The Value for Money (VfM) agenda has become more important for organizations like UNICEF as it allows for fiscally sound management of resources while ensuring programmes for children are sustained and reaches the most vulnerable.
UNICEF is positioned within the wider UN framework and can leverage networks to support the Government of Guyana for the realization of the rights of its children. It brings data, technical skills networking and access to best practices to the table that co-create strategies for national and subnational development, including identifying and addressing inequalities.
The Government of Guyana under the leadership of Ministry of Finance (MoF) in Partnership with UNICEF Guyana and Suriname has been championing the Value for money agenda is seen as an appropriate framework for measuring performance because value for money reflects not only the cost of providing a service but also the results achieved.
As a result, a national training on VfM – the second of its kind – was organized supported by UNICEF and led by Dr. Ray Rist Evaluation Specialist.
“This five-day practical/hands-on workshop on the computation of Value for Money (VfM) analyses comes at a significant and important time for the advancement of our new country programme", were the words shared by Mr. Irfan Akhtar Deputy Representative UNICEF at the opening of the VfM training at the Pegasus Hotel in Georgetown Guyana
Those invited to the training came from Government agencies, Non-Governmental Organizations (NGOs) and Diplomatic agencies. By the end of the workshop participants were able to define VfM, identify its purpose and origin while understanding the roles, standards and policies present in VfM.
A simple graduation ceremony was held for the participants at which UNICEF Representative Guyana and Suriname Nicolas Pron and Minister of Finance the Honourable Dr. Ashni Singh were present. The Honourable Minister intimated to the group that the lessons shared by Dr. Rist are invaluable and charged all to use them effectively in their respective organizations.
Echoing the thoughts of the Honourable Minister Mr. Pron shared, “it is expected that the skills gained in this training will be used to steer your activities, projects and programmes towards planned results. Please allow me to congratulate your drive and dedication in these times of global challenges and wish you the best as you use these experiences to raise the profile of accountability I your organizations."