We often hear the term “value engineering” in reference to health care or the construction industry. While the term has sometimes seemed synonymous with cost cutting, at its heart, value-engineering is meant to enhance the value of a product, system or service by taking a function-oriented, systematic, team approach that results in the biggest bang for money spent.
Value engineering aims to figure out how exactly to provide quality services within constrained environments. Caroline Heider, Director General of the Independent Evaluation Group of the World Bank, calls it “value for money” evaluation. In a blog post on this topic, Heider adds “for whom?”, and urges clients and implementers of evaluation to...Read More