D2N2 Value for Money Appraisals

Question: Do LEP investment proposals offer good value for money?

D2N2 wanted expert independent advice on the value for money offered by investment projects being submitted to the local enterprise partnership’s local growth fund. A wide variety of schemes including road improvements, cycle schemes, public realm enhancement, incubators and new business premises which have been broadly endorsed by the D2N2 LEP, required an impartial technical appraisal to test the proposed range and scale of impacts and to review expected value for money.

Solution: quick, detailed assessments and advice

Regeneris has reviewed over 20 different proposals with a project value of £405m. Our team has worked collaboratively with the D2N2 team to build an initial understanding of each project’s scope, objectives and expected achievements. Our team critically review the range of benefits and methods used to estimate potential impacts. We undertake HM Treasury Green Book compliant value for money tests on the return on investment based on net gross value added and jobs created. We discount costs and benefits to present values, stress test estimates to reflect risks, and review alternative intervention options. We compare value for money against recognised benchmarks, adjusted to reflect the local economic context and evaluation evidence.

Outcomes: securing value for money for tax payers and helping maximise the benefits generated for the local economy

We quickly bring our assessment together into a short report advising the D2N2 board on whether to proceed to investment. We have helped the D2N2 team build up their own insights into value for money while maintaining arms-length working arrangements to ensure our advice is objective. Our support has helped the D2N2 LEP progress £116m of its own investment pipeline in schemes offering good value to tax payers and tackling local economic challenges.


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