Evaluations of policies and programs often use a theory of change to articulate how the intervention is intended to function and the mechanisms by which it is supposed to generate outcomes. When an evaluation includes cost and efficiency considerations, economic and other concepts can be added to a theory of change to articulate a theory of value creation that articulates the mechanisms by which the intervention should use resources efficiently, effectively and create sufficient value to justify the resource use.

This paper introduces some theories of value creation that are often implicit in program designs. Making these theories explicit can support clearer evaluative thinking about value for money - including specification of criteria and standards that are aligned with the theory, methods of inquiry that test the theory, and well-reasoned judgements that answer evaluative questions about value for money. Implications for evaluation practice will be discussed.

对政策和计划的评估通常使用变革理论来阐明干预的意图是如何发挥作用以及它应该通过何种机制产生结果。当评估包括成本和效率考虑时，可以将经济和其他概念添加到变革理论中，以阐明价值创造理论，该理论阐明干预措施应有效利用资源并创造足够价值以证明资源合理的机制利用。

本文介绍了一些通常隐含在程序设计中的价值创造理论。明确这些理论可以支持对物有所值的更清晰的评估思考——包括与理论相一致的标准和标准的规范、检验理论的调查方法，以及回答有关物有所值的评估问题的合理判断。将讨论对评估实践的影响。