At a time when donors are tightening their aid budgets and reconfiguring their development priorities, the discussion surrounding project management has largely centered on the need to deliver “value for money.” But it is important to remember that value for money goes beyond the narrow focus on attaining the lowest cost for a project — an aim that, in certain contexts, may prove to be short-sighted.
In a video interview with Devex Editor Rolf Rosenkranz, Ricardo Vargas, director of the sustainable project management group at the U.N. Office for Project Services, said value for money can be achieved through effective project management.
“Even the cheapest thing that does not add value is expensive,” Vargas said. “People need to understand [and ask themselves], ‘When I’m bidding for something, am I fulfilling everything, all the needs? Or am I just putting the cheapest possible price?’”
This story is forDevex Promembers
Unlock this story now with a 15-day free trial of Devex Pro.
With a Devex Pro subscription you'll get access to deeper analysis and exclusive insights from our reporters and analysts.
Start my free trialRequest a group subscription