The value of a program can be understood as referring not only to outcomes, but also to how those outcomes compare to the types and amounts of resources expended to produce the outcomes. Major potential mistakes and biases in assessing the worth of resources consumed, as well as the value of outcomes produced, are explored. Most of these occur when the evaluation is limited in contexts examined or perspectives adopted. In particular, it is noted that the price of a resource often is context-dependent, and may not describe the value of a resource from important perspectives. Also, the monetary value of outcomes as inferred from earned income, and from avoided human service expenditures, may not reflect outcome value from key perspectives, possibly exacerbating discrimination according to gender, ethnicity, and age. Solutions for these problems are recommended. More complete and detailed information on resources consumed and outcomes produced also may facilitate systematic optimization of program value, if the evaluation includes the amounts and types of resources used by those program activities that change the participant processes that lead to desired program outcomes.