In my organisation this is considered the holy grail of impact evaluation: how well is the project or programme performing, what is the bang for the buck. If anyone has any useful thoughts or experience to help guide me on building an indicator or two to measure ROI of a conservation programme I would love to hear from you! Many thanks!
This is a very important point that you raised in Conservation Projects, particularly ecological restoration.
We had similar concerns in Natural Resources regeneration projects in Dryland areas in India. We used to look at increase in biomass, extended months of stream flows, reduction in seasonal migration, reduction in soil erosion, soil moisture retention and increased employment opportunities in project areas and quantified such variables to arrive at economic returns.
It's a good question. Now, let's ask, RoI from whose perspective? Remember, on every project, the state, society and market will all be invested. Moreover, there is the challenge of quantification and attempts at monetization. So, can we live without the concept of financial returns and instead think of satisfaction (of all) in seeing progress? That way, we might ponder Frame of Management (FoM) instead of RoI.
Thank you both, those are useful points! My question is actually more oriented towards project evaluation in terms of what the donors and partners want to see. My team and I are designing our programme to get more cost-effective, we need to be cheaper, and get more of a bang for each buck. I am looking for ways to quantify this, a simple index or something. Any further thoughts welcome!
The seminal authors for ROI impact are Phillips and Phillips. They modified the Kirkpatrick methodology to a 5 level ROI impact. The five levels determine both intangibles and monetization. They currently work with many Fortune 500 companies and the United Nations in over 60 countries. Mention my name. Good luck.
https://roiinstitute.net/
Kleinroi.com
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