Basic Concepts You Should Know For Doing Impact Measurement
As an organization, doing impact measurement can help you determine whether or not a project is having the desired impact. Generally, there is a plan ahead of the project with projected results, but the impact measurement strategy will allow you to see if the project is having the desired effect or if you need to make any changes, among other things.
Impact measurement seems pretty straightforward, but there are a few basic concepts that one needs to keep in mind when doing impact measurement. These concepts are universal and can help you formulate your strategies. This article aims to have a closer look at some of these concepts to help you get started.
5 Basic Concepts Of Impact Measurement Every Organization Should Understand
There are many different concepts and each year, many new theories are coming out about the most effective method for impact measurement. We have selected five of the top concepts that you need to keep in mind. Once you have an understanding of these concepts, it should be much easier to apply impact measurement protocols.
1. Impact Measurement Itself
You must understand the concept of impact measurement and what the goal is. The main goal of impact measurement is to look at the project and find out how much of an impact it has on the localized environment—how can you increase the positive impact and decrease the negative impact. It is something that needs to be done routinely to ensure that resources are not wasted and goals are attained.
Know more What is Impact Measurement & Management
2. Theory Of Change
ToC is a comprehensive description and illustration of how and why the desired change is expected to happen in a particular context.
ToC is a multi-purpose tool that at first was designed to help planning out complex interventions. Since this framework can give more details on how interventions planned could actually work. It helps organizations, from NGOs to social enterprises to charities, to map out or fill in missing links between what a change project does and how it could lead to desired goals being achieved.
3. Five Dimensions Of Impact
Whenever you start a new project it is important to have a set goal in mind. The goal is what you aim to achieve. The 5 dimensions of impact are important to understand how you are making progress. The 5 dimensions of impact entail you focusing on WHO, WHAT, HOW MUCH, CONTRIBUTION, and RISK. These different concepts will target every angle of the project and ensure that you get a complete picture about the impact you create with your services or product.
Learn more about 5 Dimensions Of Impact
4. Data Collection
Building knowledge about the performance of a project is very hard if you don’t have any insight into the data. You must understand the data that is being produced from your projects. There are tons of data collection methods, but you must have one that you can rely on. One needs to have measurable data to know whether a project needs to be changed and what the effects are. Start collecting your data today using Artemis Impact Management Platform
5. Sustainable Development Goals
Lastly, you need to ensure that your organization can map its impact at a macro level. Tracking your project’s impact and then seeing the contribution it makes to the Sustainable Development goals can help you show the impact of your projects or interventions at a national and global level.
With your theories and tips, it is much easier to get into your impact measurement process. It does not matter which project you have running, having data and knowledge can help you make better decisions and improve the functionality. We hope that these theories have given you some insight into building a sustainable organization.