IMM Flashcards
final exam (25 cards)
What is impact measurement?
Impact measurement is the systematic process of assessing the effects of an intervention, program, or policy on individuals, communities, or the environment.
Name three advantages of impact measurement.
Informed decision-making, enhanced accountability, and the ability to attract funding by showcasing effectiveness.
What is a Theory of Change?
A Theory of Change outlines how an intervention is expected to achieve its objectives, including goals, activities, outcomes, and assumptions.
What is the difference between outcomes and impact?
Outcomes refer to short-term changes or benefits, while impact assesses the broader, longer-term effects of an intervention.
What is the purpose of stakeholder engagement in impact measurement?
To ensure stakeholders understand and support the impact objectives and that outcomes are valued by them.
What are Social Impact Bonds (SIBs)?
SIBs are outcome-based contracts where investors fund social initiatives upfront, and governments repay them if specific outcomes are achieved.
What is Social Return on Investment (SROI)?
SROI is a framework to measure and evaluate the social, environmental, and economic value generated by an intervention relative to the investment.
List the seven principles of social value.
Involve stakeholders, understand what changes, value outcomes, only include what is material, do not over-claim, be transparent, and verify results.
What is IRIS+?
IRIS+ is a set of standardised metrics and guidance developed by GIIN to measure and manage impact performance across sectors.
What are the five dimensions of the Impact Management Project (IMP) framework?
What, who, how much, contribution, and risk.
What is the primary purpose of philanthropy in IMM?
To strategically use private financial resources for long-term public good while being accountable and transparent.
What role does artificial intelligence play in IMM?
AI enhances IMM by automating data validation, selecting indicators, and providing actionable insights to improve impact measurement.
What is the SDG Impact Standards framework?
A set of guidelines to integrate the UN Sustainable Development Goals (SDGs) into organisational decision-making for measurable impact.
What is the significance of stakeholder voice in IMM?
It involves actively listening to stakeholders to ensure their experiences and perspectives shape organisational activities and impacts
What are the characteristics of impact investing?
Intentionality towards impact, financial return expectations, and measurable social/environmental outcomes
Define system change in the context of IMM.
System change involves transforming policies, relationships, and power structures to address complex challenges effectively.
What are the three core themes identified for impact investing?
Circular solutions, people power, and healthy living.
What is foresight in IMM?
Foresight is the practice of anticipating societal challenges and identifying opportunities through tools like scenario planning and horizon scanning.
What is the main challenge in monetising impact?
Balancing the benefits of standardised comparison with the risk of oversimplifying complex social impacts.
What are some methodologies to value and monetise impact?
Impact Multiple of Money, Social Return on Investment, and Impact Weighted Accounts.
[Case Question] - How would you apply the Theory of Change to evaluate the effectiveness of an organisation addressing youth unemployment?
Identify the main social change goal, expected outcomes, measurable outputs, specific activities, and resources required. Address key assumptions and potential challenges linking activities to desired outcomes.
[Case Question] - A social enterprise claims it improved community well-being. How would you assess whether this impact is attributable to their intervention?
Evaluate attribution by isolating the organisation’s impact from other factors, considering deadweight (what would have happened without the intervention), displacement, and unintended consequences.
A non-profit wants to secure funding by showcasing their Social Return on Investment (SROI). What steps should they take to calculate and present SROI effectively?
Establish the scope and stakeholders, map outcomes, evidence and assign values to outcomes, calculate the SROI ratio, and report findings to embed learnings and attract funders.
[Case Question] - An organisation using Social Impact Bonds (SIBs) faces challenges defining measurable outcomes. What strategies can help ensure successful implementation?
Collaborate with stakeholders to define clear and achievable outcomes, use independent evaluators for accountability, and design flexible contracts to adapt to challenges during implementation.
