Value for Money

Book description

Written by two of the world's most well-known ROI (Return on Investment) gurus, this guide is indispensable for anyone involved in showing the value of money for projects and programs in governments, non-governmental organizations, nonprofits, and businesses. These range from human capital programs to marketing initiatives, technology implementations, systems integrations, quality and lean processes, public health initiatives, procurement procedures, public relations events, risk management policies, economic development programs, corporate social responsibility projects, public policy programs, branding activities, innovation programs, customer satisfaction projects, and everything in between.

In a step-by-step process, the book shows how to measure the success of projects and programs, including measuring impact and ROI (Return on Investment). This book also shows how to forecast the value of the project in advance and how to collect data during and after project implementation. It addresses improvements throughout the process so that the project delivers optimum value. In addition to businesses, this book is appropriate for governments, NGOs, nonprofits, universities and healthcare organizations.

As a reference for those who are seeking ways to assign value to what they have measured, the book will clarify and resolve much of the mystery surrounding the conversion of data to monetary values. Building on a tremendous amount of experience, application, practice, and research, the book will be based on the work of many individuals and organizations, particularly those who have been reaching the ultimate levels of accountability using the ROI Methodology. Developed in an easy-to-read format and fortified with examples, tips, and checklists, this will be an indispensable guide for those who seek to understand accountability issues.

Table of contents

  1. Cover
  2. Praise for Value for Money
  3. Foreword
  4. Preface
    1. Value is Changing …
    2. Need for a New Approach
    3. The ROI Methodology: The Enhanced Logic Model
    4. We Can’t Measure Our Way to Success
    5. Flow of the Book
  5. Acknowledgements
  6. Authors
  7. Chapter 1: The Value Evolution
    1. The Value Shift
    2. Why Now?
    3. Challenges Along the Way
    4. Final Thoughts
  8. Chapter 2: Six Ways to Show Value for Money
    1. Six Ways to Show Value for Money
    2. Barriers to Showing Value for Money
    3. Final Thoughts
  9. Chapter 3: Needed: An Enhanced Logic Model
    1. A Review of Models
    2. Concerns about Current Models
    3. How Does Your Current Model Stack Up?
    4. Requirements for the Value for Money: A Measurement Process
    5. ROI Methodology
    6. Terminology: Projects, Solutions, Participants
    7. Final Thoughts
  10. Chapter 4: Introducing the ROI Methodology
    1. Types of Data
    2. The Initial Analysis
    3. Using Design Thinking to Deliver and Measure Results
    4. The ROI Process Model
    5. Operating Standards and Philosophy
    6. Implementing and Sustaining the Process
    7. Benefits of This Approach
    8. Final Thoughts
  11. Chapter 5: Start with Why: Align Programs with the Business
    1. Impact Measures are Critical
    2. The Challenge
    3. The Alignment Model
    4. Payoff Needs
    5. Business Needs
    6. Final Thoughts
  12. Chapter 6: Make It Feasible: Select the Right Solution
    1. Performance Needs
    2. The Performance Dialogue
    3. Use Analysis Techniques
    4. Learning Needs
    5. Preference Needs
    6. Matching Solutions to Needs
    7. The Matrix Diagram
    8. Selecting Solutions for Maximum Payoff
    9. Final Thoughts
  13. Chapter 7: Expect Success: Design for Results
    1. The Power of Expectations
    2. Defining the Success of Programs
    3. Designing for Results at Each Level
    4. Developing Objectives at Multiple Levels
    5. The Power of Objectives
    6. Defining Roles and Responsibilities
    7. Planning the Evaluation
    8. Final Thoughts
  14. Chapter 8: Make It Matter: Design for Input, Reaction, and Learning
    1. Communicating with Results in Mind
    2. Changing the Role of Participants
    3. Creating Expectations
    4. Think ROI
    5. Design Input for Results
    6. Design Reaction for Results
    7. Design Learning for Results
    8. Data Collection for Input, Reaction, and Learning
    9. Timing of Data Collection
    10. Final Thoughts
  15. Chapter 9: Make It Stick: Design for Application and Impact
    1. Data Collection for Application and Impact
    2. Monitoring Business Performance Data
    3. Selecting the Appropriate Method for Each Level
    4. Timing of Data Collection
    5. Built-In Application Tools
    6. Involving the Participants’ Manager or Significant Other
    7. Final Thoughts
  16. Chapter 10: Make It Credible: Isolate the Effects of the Program
    1. The Importance of Pinpointing the Contribution
    2. Preliminary Issues
    3. Quantitative and Research Isolation Methods
    4. Qualitative Isolation Methods
    5. Select the Method
    6. Final Thoughts
  17. Chapter 11: Make It Credible: Convert Data to Monetary Value
    1. The Importance of Monetary Value
    2. Key Steps in Converting Data to Money
    3. Standard Monetary Values
    4. When Standard Values are Not Available
    5. Selecting the Technique
    6. Final Thoughts
  18. Chapter 12: Make It Credible: Identify the Intangibles
    1. Why Intangibles are Important
    2. Measuring and Analyzing Intangibles
    3. Final Thoughts
  19. Chapter 13: Make It Credible: Capture Costs of the Program and Calculate ROI
    1. The Importance of Costs and ROI
    2. Fundamental Cost Issues
    3. Specific Costs to Include
    4. Cost Tabulation in Action
    5. The ROI Calculation
    6. Other ROI Measures
    7. Final Thoughts
  20. Chapter 14: Tell the Story: Communicate Results to Key Stakeholders
    1. The Importance of Communicating Results
    2. Principles of Communicating Results
    3. The Process for Communicating Results
    4. Step 1: Analyze Reason for Communication
    5. Step 2: Plan for Communication
    6. Step 3: Select Audience
    7. Step 4: Develop Reports
    8. Step 5: Select Media
    9. Step 6: Present Information
    10. Step 7: Analyze Reaction
    11. Final Thoughts
  21. Chapter 15: Optimize Results: Use Black Box Thinking to Increase Funding
    1. Process Improvement is the Key: Black Box Thinking
    2. Making Adjustments in Programs
    3. The Timing of Changes
    4. Increasing ROI
    5. Influencing Allocation
    6. Final Thoughts
  22. Chapter 16: Forecast the ROI
    1. The Importance of Forecasting ROI
    2. The Trade-Offs of Forecasting
    3. Pre-Program ROI Forecasting
    4. Forecasting with a Pilot Program
    5. ROI Forecasting with Reaction Data
    6. Forecasting Guidelines
    7. Final Thoughts
  23. Chapter 17: Make It Work: Sustaining the Change to a Results-Based Process
    1. Overcoming Resistance
    2. Assess the Climate
    3. Develop Roles and Responsibilities
    4. Establish Goals and Plans
    5. Revise Guidelines and Procedures
    6. Prepare the Team
    7. Initiate ROI Studies
    8. Prepare the Management Team
    9. Remove Obstacles
    10. Monitor Progress
    11. Final Thoughts
  24. References
  25. Appendix A
  26. Appendix B
  27. Appendix C
  28. Index
  29. End User License Agreement

Product information

  • Title: Value for Money
  • Author(s): Patricia Pulliam Phillips, Jack J. Phillips, Gina Paone, Cyndi Huff Gaudet, Kyle McLeod
  • Release date: August 2019
  • Publisher(s): Wiley-Scrivener
  • ISBN: 9781119322658