The concept of value for money as applied in public procurement in Ghana. The case of Ho Municipal Assembly

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Procurement is a new area of learning that specializes in attainment of value for money. In this case, issues of ethics, technical Know-how and project management again come to play as they are important in procurement ethics, techniques, principles, procedures and systems. The aim of this study was to investigate the application of the concept of Value for money in public procurement processes in Ghana. With regards to aim, objectives were set which included the identification of critical elements and various approaches under the public procurement Act and to propose the application of best practices and standards by public procurement entities to ensure value for money in the procurement processes. Research findings helps to reveal the extent of knowledge and application of the concept of value for money by public procurement personnel (entities) in the country. Results from questionnaires distributed to a sample size of 76 procurement professionals showed some of the driving tools in facilitating the achievement of value for money. The study concluded by advocating for VFM analysis to be integrated with overall public investment planning and recommended among others that professional education, on the dimensions, practices and procedures in the public procurement system is given to practitioners and all stake holders in the supply chain to ensure public funds are spent in a transparent, efficient and fair manner to attain best value in the works procurement industry in Ghana. Also, there should be regular procurement activities appraisal, checks to observer for passivity with procurement actions in the firm by the internal auditor and public procurement authority for consistent enforcement of the prevailing rules and regulations in procurement.
A dissertation submitted to the Department of Building Technology, College of Art and Built Environment in partial fulfilment of the requirements for the degree of Master of Science,