A Dissertation Submitted in Partial Fulfillment of the Requirement for the Award of Master of Science in Procurement and Supply Chain Management (Msc. PSCM) of Mzumbe University.Contract management is an important activity in public procurement especially on executing development projects while aiming at value for money. On the contrary, reports from the Public Procurement Regulatory Authority show that funds have been wasted due to poor contract management practices, hindering value for money achievement in most of the public institutions across the globe. Generally, the study aimed at assessing the effectiveness of works procurement contract management in achieving value for money. Specifically the study aimed at describing the procurement methods used in works contract, the criteria used in evaluation and selection of contractors and the extent to which the contracting parties fulfill their objectives in achieving Value for money Taking the case of College of Business Education, a case study research design was used to undertake the study where by purposive and simple random samplings were used to take a sample of 69 respondents. Data were collected through the questionnaire, interview, and document review. Based on the collected data the researcher used both qualitative and quantitative approach to analyze data; qualitative data were analyzed through the use of interpretive and reflexive approaches while the quantitative data were analyzed through the utilization of SPSS program which assisted the researcher to run some of the analysis. The findings reveal that College of Business Education has been able to achieve value for money in the works procurement contracts as results of having the effective contract management practices through selection of proper procurement methods that influence competition and lead to getting the reliable contractors at lowest costs. Also through the criteria for evaluation and selection of contractors has been able to get capable and competent contractors, and it avoids favoritism and corruption. Lastly, the contracting parties fulfill their objectives by delivering the quality and completed work on time, and paying the contractors on time. Due to all these factors, they guarantee the achievement of value for money despite of some few weaknesses.