The text of the FLEGT VPAs require that the IMM operates in accordance to a documented methodology and procedure. The following set of procedures has been developed to ensure market analysis is consistent, objective and transparent. As far as possible, IMM applies a single market monitoring format to all VPA partner countries while also taking into consideration country specific circumstances and needs. The framework of indicators is designed to allow quantitative assessment of market impacts. These include “global” indicators to monitor the market environment for all FLEGT VPA timber. Examples include the market impacts of EU Timber Regulation (EUTR) implementation and the scope and content of public sector procurement policies. Other indicators monitor changing markets for VPA licensed timber from each VPA country, for example the volume and value of national trade flows and price premiums for specific indicator products.
The methodology and indicators are "living" documents designed to be regularly reviewed, drawing on experience and on-going input from stakeholders. The methodology is supplemented by an Annual Work Plan which includes details of budgeting, task scheduling and allocation of personnel.