IMPACT MEASUREMENT AND MANAGEMENT
The "Wh" questions of Impact Measurement and Management
Who?
Impact measurement and management is relevant to all kinds of industries and institutions at any scale.
What?
Impact investments are made with the intention of generating positive measurable social or environmental impact, as well as generating financial returns. Social impact aims to improve human well-being and reduce environmental degradation. Therefore, impact investments cover the three dimensions of sustainability: economic, social and environmental impact.
Monitoring the social and environmental value of impact investments and determining a roadmap is possible with Impact Measurement and Management (IMM). IMM improves the decision-making process in the management of impact investment; it starts with goal setting and extends to data collection, analysis and validation. IMM is the most important tool to allocate resources in the most beneficial way.
Who?
Impact measurement and management is relevant to all kinds of industries and institutions at any scale.
Where?
The scope of Impact Measurement and Management is not limited to social projects/programs run by NGOs or corporate social responsibility projects run by private sector companies.
The impacts of all investments that aim development must be measured and managed. Business processes of private sector companies are also included in this group. The impacts of business processes directly affect social welfare and the environment. Therefore, the need for IMM on the path to Sustainable Development Goals is an urgent requirement for the private sector.
How?
In the last decade, more than 150 tools, resources, and methods have been produced in the field of Impact Measurement and Management. This demonstrated that IMM is no longer a choice, it is gradually becoming the norm.
Although it is not currently possible to have a one-size-fits-all Impact Measurement and Management framework, it is seen that there is consistency and harmony among the existing ones in the sector. The overlap of different frameworks and methodologies shows that the needs are common in Impact Measurement and Management, even though the sectors and organisational scales are different.
When?
Ideally, impact should be being measured and managed from the start of the designing process of the initiative and/or project. However, sometimes this may not be the case. All institutions that want to manage and maximise the impact can begin implementing impact measurement and management system any time.
Why?
Investments that implement the Impact Measurement and Management system can:
- Have realistic future projections,
- Avoid various possible risks since they allocated their resources correctly,
- Detect the direction that demand is growing early on due to the constant communication with their stakeholders, which makes them leaders rather than followers when market opportunities arise,
- Demonstrate robust value to investors.
What?
Impact investments are made with the intention of generating positive measurable social or environmental impact, as well as generating financial returns. Social impact aims to improve human well-being and reduce environmental degradation. Therefore, impact investments cover the three dimensions of sustainability: economic, social and environmental impact.
Monitoring the social and environmental value of impact investments and determining a roadmap is possible with Impact Measurement and Management (IMM). IMM improves the decision-making process in the management of impact investment; it starts with goal setting and extends to data collection, analysis and validation. IMM is the most important tool to allocate resources in the most beneficial way.
Where?
The scope of Impact Measurement and Management is not limited to social projects/programs run by NGOs or corporate social responsibility projects run by private sector companies.
The impacts of all investments that aim development must be measured and managed. Business processes of private sector companies are also included in this group. The impacts of business processes directly affect social welfare and the environment. Therefore, the need for IMM on the path to Sustainable Development Goals is an urgent requirement for the private sector.
How?
In the last decade, more than 150 tools, resources, and methods have been produced in the field of Impact Measurement and Management. This demonstrated that IMM is no longer a choice, it is gradually becoming the norm.
Although it is not currently possible to have a one-size-fits-all Impact Measurement and Management framework, it is seen that there is consistency and harmony among the existing ones in the sector. The overlap of different frameworks and methodologies shows that the needs are common in Impact Measurement and Management, even though the sectors and organisational scales are different.
When?
Ideally, impact should be being measured and managed from the start of the designing process of the initiative and/or project. However, sometimes this may not be the case. All institutions that want to manage and maximise the impact can begin implementing impact measurement and management system any time.
Why?
Investments that implement the Impact Measurement and Management system can:
- Have realistic future projections,
- Avoid various possible risks since they allocated their resources correctly,
- Detect the direction that demand is growing early on due to the constant communication with their stakeholders, which makes them leaders rather than followers when market opportunities arise,
- Demonstrate robust value to investors.
