📊 Value for Money (VfM) Audit Training

Overview

📘 Course Description

This intensive course equips professionals with the skills and techniques required to carry out effective Value for Money (VfM) audits. Participants will master evaluating the economy, efficiency, and effectiveness of programs, projects, or organizations. You will learn how to plan, execute, and report on VfM audits with confidence, applying proven methods to measure and improve performance.

🎯 Learning Objectives

✅ Understand the principles and importance of VfM audits
✅ Apply standards and frameworks for VfM assessments
✅ Develop appropriate criteria and indicators for VfM audits
✅ Conduct data collection, analysis, and validation
✅ Produce impactful VfM audit reports with actionable recommendations

👥 Who Should Attend

Internal and external auditors
Performance auditors
Finance and compliance professionals
Program and project managers
Public sector and NGO staff responsible for accountability and governance
Anyone interested in performance measurement and evaluation

🗂️ Training Format

✅ Expert-led presentations
✅ Practical exercises & role-plays
✅ Group discussions
✅ Real-world case studies
✅ Templates & tools for VfM audit planning and reporting

📅 Day-by-Day Agenda with Time Breaks

📅 Day 1: Introduction to VfM Auditing

Time	Topic
08:30 – 09:00	Welcome & Objectives
09:00 – 10:30	Concepts of Value for Money: Economy, Efficiency, Effectiveness
10:30 – 10:45	☕ Coffee Break
10:45 – 12:15	International Standards & Frameworks for VfM Audits
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Roles and Responsibilities in VfM Auditing
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Planning a VfM Audit: Defining Scope & Objectives

📅 Day 2: Audit Design & Criteria

Time	Topic
08:30 – 10:00	Risk Assessment & Prioritizing VfM Audits
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Developing Audit Criteria and Indicators
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Designing Methodologies: Interviews, Surveys, Observations
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Preparing Audit Tools and Templates

📅 Day 3: Gathering & Analyzing Evidence

Time	Topic
08:30 – 10:00	Collecting Data: Interviews, Surveys, Document Review
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Validating and Triangulating Data
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Quantitative & Qualitative Analysis Techniques
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Measuring Economy, Efficiency, and Effectiveness

📅 Day 4: Reporting & Communicating Findings

Time	Topic
08:30 – 10:00	Structuring a VfM Audit Report
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Writing Clear and Actionable Recommendations
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Presentation Techniques for Stakeholders
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Group Exercise: Drafting a VfM Audit Report

📅 Day 5: Best Practices & Case Study

Time	Topic
08:30 – 10:00	Best Practices in VfM Auditing: Lessons Learned
10:00 – 10:15	☕ Coffee Break
10:15 – 12:15	Real-World Case Study: Conducting a VfM Audit
12:15 – 13:15	🍽 Lunch
13:15 – 14:45	Group Presentations: Audit Findings & Recommendations
14:45 – 15:00	☕ Coffee Break
15:00 – 16:30	Review, Q&A, Assessment & Closing Ceremony

📦 Materials Provided

✅ VfM Audit planning templates
✅ Practical examples & case studies
✅ Electronic course manual
✅ Certificate of Completion

Target audiences

Reservoir Engineers, Geologists

$ 5,500