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Assessment of Public Value: Market Impact and Economic Evaluation

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This document outlines the Public Value Test (PVT), which integrates the Market Impact Assessment (MIA) and Public Value Assessment (PVA) to evaluate the public value of a Trust's initiatives. It details the two main components of the PVT—judgment based on PVA and MIA—and describes the obstacles that need to be overcome: the quality and distinctiveness of impact (1st hurdle), reach and value for money (2nd hurdle), and finally, economic value and alignment with purposes (3rd hurdle).

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Assessment of Public Value: Market Impact and Economic Evaluation

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  1. Public Value Test (PVT) Market Impact Assessment (MIA) Public Value Assessment (PVA) The Test has two main components. The PVT itself is the Trust’s judgement based on these • Undertaken by the Trust – a judgement balancing the results of PVA & MIA 9

  2. Within a PVT, three hurdles must be crossed Public Value Test (PVT) 3rd hurdle Market Impact Assessment (MIA) Economic Value Public Value Assessment (PVA) Crowding Out Fit with Purposes 1st hurdle Quality & Distinctiveness Impact 2nd hurdle Reach Cost and VFM 10

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