ABSTRACT
The previous chapters advocate that the stakeholder groups are able to achieve their individual expectations and therefore their VfM points at different stages within the project phase. VfM is not achieved simply at two snapshots in time, as suggested by a look-forward and look-back test. Indeed, it could be argued that the look-forward test is not a measurement of VfM, rather, a task to provide a baseline position of drivers, incentives, aims and expectations to be met. Whereas the look-back test is the examination of whether we achieved what we set out to do. However, as highlighted in this book, achieving VfM is not something that can just be left to chance. It is something that needs to be worked towards. The tracking mechanism proposed within this chapter is a tool to assist in the achievement of that goal. If such a mechanism were available for use within projects, on an ongoing basis, it would be easier to identify whether projects were either achieving VfM, or falling short. The reasons could then be identified at each of the key stages for any non-achievement, not just from a public sector perspective but from the perspective of all stakeholder groups, the result being that all stakeholder groups would have an ongoing position statement of VfM. The data gathered from this exercise could also help practically in future projects, in avoiding pitfalls and developing best practice for wider use and application.
