Assigning values to outcomes including identifying financial proxies
Assigning a value to outcomes is often, conceptually, the most challenging aspect of socio-economic analysis such as Social Return on Investment (SROI). Even if your background is in social research and evaluation, you may be unfamiliar with the approaches used to produce cost-benefit analysis in monetary terms.
Identifying financial proxies for a programme’s outcomes often requires thinking like an economist, while drawing on knowledge and evidence of impact on end beneficiaries. Standard economic valuation techniques are used in SROI and developments in the field of well-being economics offer further options.
Choosing the best method and approach to valuation will largely depend on the nature of the intervention you are analysing, as well as your intended audience and objectives. This may involve trawling academic journals, though you can also develop financial proxies directly through running exercises with beneficiaries.
Participants on this workshop will learn about the latest developments in valuation. You will build confidence and competence through practical exercises on finding, selecting and using appropriate financial proxies. You don’t need to be an expert in maths, but it will help to have some experience in dealing with numbers.
What the day will cover
- Why valuation can be a useful step in SROI and other socio-economic analyses.
- Overview of commonly-used valuation techniques.
- Jargon buster: “contingent valuation”, “revealed preference”, “willingness-to-pay”, etc.
- Best practice in proxy research and selection.
- Options for running your own valuation exercise.
- Valuing well-being and ‘soft’ outcomes.
What you will learn
By the end of the course you will:
- Understand the principles of valuation and why it is a critical component in SROI and other socio-economic analysis.
- Understand the origins, developments and limitations of different valuation techniques and be able to differentiate between common approaches.
- Be able to distinguish between instrumental and intrinsic outcomes and values.
- Be able to practically determine, select and use monetary proxies in the absence of “ideal” data.
Who should attend
Anyone who has or is building intermediate skills in SROI or other socio-economic analyses requiring outcome valuation. You may have completed a foundation course in SROI and wish to deepen your knowledge of valuation and proxy selection approaches.
The workshop will also be of benefit to those who have completed our SROI course and wanting a refresher on valuation approaches, or a chance to explore the topic in more depth.
Who will be running the workshop
Samra is a consultant and trainer with strong experience in evaluation and impact assessment. At NEF Consulting she focuses on quantitative and qualitative measurement and analysis of social, economic and environmental benefits and costs using a variety of methodologies, including Social Return on Investment (SROI) and social cost-benefit analysis (SCBA). She has worked with a variety of organisations in the UK and internationally to develop evaluation frameworks, applying her knowledge of economic and social research methodologies to better enable clients to understand and communicate their impact. She is also an experienced trainer, having led training courses in Value for Money (VfM) principles and methodologies and approaches for measuring and improving wellbeing.
Dates, venue and cost
This workshop is likely to run from 9.30 am to about 4.00 pm.
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All courses are subject to U.K. VAT. Fee includes refreshments and lunch, as well as training materials.
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