The most widely recognised impact measurement tool is Social Return on Investment (SROI)
SROI measures change in ways that are relevant to the people or organisations that experience or contribute to it. It tells the story of how change is being created by measuring social, environmental and economic outcomes and uses monetary values to represent them. This enables a ratio of benefits to costs to be calculated. For example, a ratio of 3:1 indicates that an investment of £1 delivers £3 of social value.” A Guide to Social Return on Investment, Cabinet Office
For most people coming to SROI for the first time, it can seem overly complex and time consuming. Our SROI practitioners can undertake an independent impact measurement exercise for you or guide your team through the process so that they develop the knowledge and skills to undertake similar studies in the future.
We can help you to:
- Define the scope of your study
- Identify stakeholders
- Prepare an ‘impact map’ showing the ‘theory of change’
- Look at inputs, outputs and outcomes
- Put a value on outcomes by looking at proxies and issues such as deadweight, attribution, drop-off
- Calculate your impact
- Use, report and communicate the findings
- Get the report externally verified
If you would like to talk through your options and see if SROI is right for your organisation, please get in touch.