Value for money calculator for projects using the market systems development approach

Before you start exploring, here’s what you need to know

• Why did the ILO create the MSD Value for Money (VfM) calculator?

  The MSD VfM calculator was developed from an analysis of results from 135 MSD projects. The aim was to understand how they performed on key outcome and impact indicators relative to their budgets and under different contexts and implementation conditions.

  Rather than relying on individual case studies or assumptions, the calculator provides an evidence-based reference point drawn from a large body of MSD programme experience. It is designed to support more informed discussions about MSD effectiveness and to help practitioners benchmark performance, set realistic targets and make better-informed decisions throughout the project cycle.

• Who is this calculator for?

  The calculator is designed for anyone involved in designing, funding, implementing or evaluating MSD projects.

  It can be useful for:

  • Donors to understand the potential conditions that can support their strategic objectives and to inform investment decisions.
  • Implementers to understand what comparable projects have achieved under specific conditions to support project design, target setting, budgeting and adaptive management.
  • Evaluators and researchers as an evidence base for assessing MSD performance across a large number of projects.
• How do I use this calculator?

  Using the calculator is fairly straightforward.

  Simply select one or more of the available filters that describe your project, including:

  • Sector;
  • Country income level;
  • Project length;
  • Fragile and Conflict-affected situation (FCAS) status;
  • Risk group;
  • Primary objective; and
  • Donor.

  The calculator will identify comparable projects from the database and generate benchmark results based on those projects. You can also view the full list of projects included in the synthesis.

  Need a walkthrough? Watch our short video tutorial below.

• How should I interpret the results?

  The calculator reports median results.

  During the analysis, the project dataset showed outliers that would have distorted average values. Using the median provides a more representative benchmark for the typical MSD project. Median values were also cross-checked against adjusted outlier-free averages, which showed close parity between the two.

  The benchmarks should be viewed as reference points rather than targets or predictions. Every MSD project operates in a unique context, and results will depend on many factors that cannot be fully captured by the available filters. Where only a small number of projects match your selected criteria, interpret the results with additional caution.

• What should I keep in mind when using the calculator?

  The calculator is designed to inform judgement, not replace it. While it draws on the largest available dataset on MSD project results, comparing MSD projects is inherently challenging. This is because:

  • Different projects measure differently: They apply different methodologies, indicators, attribution models and time horizons to assess impact, meaning comparisons are not always like-for-like. The quality of evidence also depends on the strength of the measurement culture backing it.
  • Design and implementation quality vary: Differences in MSD capabilities, culture, design and delivery approaches across different projects cannot be fully captured.
  • Context matters: Every project operates in a unique environment that influences performance in ways that are difficult to account for.
  • Long-term impacts may be understated: The dataset includes only results collected during the project lifetime or the reporting period, so benefits that continue after project closure may not be reflected.

  The calculator should, therefore, be used alongside project diagnostics, contextual analysis and your own professional judgement.

• How often will the calculator be updated?

  The calculator will be updated periodically as new project data becomes available and the evidence base continues to grow.

  We are committed to improving the quality, robustness and coverage of the database over time. If you identify an error, have feedback on the calculator, or would like to contribute data from your MSD project, please reach out to us at [email protected].