Abstract
This paper examines the possibilities and limitations in pursuing value for money (VfM) in public procurement. There is ambiguity about the VfM concept and the methods that public procurers should be using. It is difficult for decision-makers to thoroughly understand the economic facts and valuations underlying VfM. The authors explain the conceptual VfM challenges and present a path to overcoming these with a lifecycle costing (LCC) approach in an indepth case study in the Finnish waste management context.
| Original language | English |
|---|---|
| Pages (from-to) | 216-223 |
| Number of pages | 11 |
| Journal | Public Money and Management |
| Volume | 39 |
| Issue number | 3 |
| Early online date | 12 Oct 2018 |
| DOIs | |
| Publication status | Published - 2019 |
| MoE publication type | A1 Journal article-refereed |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 12 Responsible Consumption and Production
Keywords
- Lifecycle costing
- public procurement
- value for money
- waste management
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