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Assessment of Public Value: Market Impact and Economic Evaluation

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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