Absolute value for money v relative value for money
Glossary of Capital Budgeting and Infrastructure Governance, published by the Organisation for Economic Co-operation and Development (OECD) in 2018, suggests that: ‘absolute value for money concerns the question whether the benefits of the project exceed the costs, while relative value for money concerns the question whether procurement through PPPs outperforms Traditional Infrastructure Procurement (TIP) in terms of value for money.’
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