Best Value Performance Plan financial definition of Best Value Performance Plan
best value (redirected from Best Value Performance Plan)
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best value the duty of local authorities to provide services with regard to economy, efficiency and effectiveness. Local authorities are required to seek continuous improvement in these services. In awarding contracts for services, local authorities are required to consult with users. The performance of these services is to be regularly compared with service provision by other local authorities (BENCHMARKING). See COMPETITIVE TENDERING.