Glossary

Terms beginning with V

validation

An activity that ensures a solution (or part of) meets the needs of the business. Validation ensures that business requirements are met even though these might have changed since the original design.

value for money (project delivery)

Value for money is a balanced judgment based on the benefit cost ratio which brings together social costs over the entire life of a proposal, together with decisively significant unquantifiable deliverables, and unmonetised risks and uncertainties, to deliver a proposal’s objectives.

verification

An activity that ensures that a solution (or part of) is complete, accurate, reliable and matches its design specification.