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Value for money
Projects are required to provide value for money. Projects will be ranked against other applications in the window on the basis of the scores achieved against the other 3 criteria (a), divided by the requested grant value (b).
A project which scores a max score of 24 (a), i.e. 4 for each of the other 3 criteria multiplied by the weighting, requesting the min grant of £10k (b) would have an a/b value (24/10) of 2.4.
A project which scores a min score of 6 (a), 1 for each of the other 3 criteria multiplied by the weighting, requesting the max grant of £250k (b) would have an a/b value (6/250) of 0.024.
a/b values for all projects in the window will be ranked in numeric order and scores allocated as shown below.
|4||Score for other 3 criteria / grant (a/b) is the top 0 - 25% of applications.|
|3||Score for other 3 criteria / grant (a/b) is the top 26 - 50% of applications.|
|2||Score for other 3 criteria / grant (a/b) is the top 51 – 75% of applications.|
|1||Score for other 3 criteria / grant (a/b) is the top 76 - 100% of applications.|
|0||A project scores 0 against any of the other 3 criteria.|
The following change has been applied in this addendum to the above Value for Money Section.
The Value for Money selection scores of 0 or 1 applied at Stage 1 appraisal can be considered for amendment to take account of relevant information provided about the project in the application.