In value for money (VFM) terms, which of the three Es refers to achieving the intended results and objectives?
Answer and explanation
Correct answer: D. Effectiveness
- Step 1: VFM has three Es: economy (cost of inputs), efficiency (output per input) and effectiveness (achievement of objectives).
- Step 2: Reaching the intended results is effectiveness.
Answer
Effectiveness.
Why not the others: Economy: Economy is about obtaining resources at the lowest cost for the right quality. Efficiency: Efficiency is about the relationship between outputs and inputs. Equity: Equity is not one of the three Es used in value for money analysis.
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