Best practices are used to maintain quality as an alternative to mandatory legislated standards and can be based on self-assessment or benchmarking. Best practice is a feature of accredited management standards such as ISO 9000 and ISO 14001.
Definition of monetary. : of or relating to money or to the mechanisms by which it is supplied to and circulates in the economy a crime committed for monetary gain a government's monetary policy.
Noun. 1. monetary value-the property of having material worth (often indicated by the amount of money something would bring if sold); the fluctuating monetary value of gold and silver; he puts a high price on his services; he couldn't calculate the cost of the collection.price, cost.oun. 1. monetary value-the property of having material worth (often indicated by the amount of money something would bring if sold); the fluctuating monetary value of gold and silver; he puts a high price on his services; he couldn't calculate the cost of the collection.