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The Balanced Value Impact Model V2.0


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Keynote delivered at the International Conference on Performance Measurement in Libraries, Aberystwyth, 23rd July 2019.
#BVIModel #LibPMC

Published in: Leadership & Management
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The Balanced Value Impact Model V2.0

  1. 1. Professor Simon Tanner King’s College London #LibPMC @SimonTanner The Balanced Value Impact Model
  2. 2. Balanced Value Impact Model Impact? Introducing BVI Model V2.0 Strategic Perspectives Value Lenses Voting + Q&A Impact Playbook
  3. 3. @SimonTanner Librarians had an impact on my life
  4. 4. @SimonTanner Impact defined The measurable outcomes arising from the existence of a resource that demonstrate a change in the life or life opportunities of the community.
  5. 5.
  6. 6. @SimonTanner
  7. 7. @SimonTanner The Balanced Value Impact Model is a way to implement impact assessment and demonstrate value, especially for digital resources. The BVI Model challenges an organisation to be more evidence-based and to investigate the underlying assumptions driving institutional values and strategies. In short, the key questions remain: • What to assess? • Why assess that? • How to use the intended results? • What is it worth to know this information? What is the BVI Model?
  8. 8. @SimonTanner BVI Model in 5 Stages
  9. 9. BVI Model viewpoints & assumptions • The BVI Model is primarily oriented to the needs of the memory institution that is responsible for the digital resource. • The BVI Model is not a community action model. • It assumes your organisation is ready to be evidence-led in its decision making. • Stakeholders must be involved early. Their role in the impact assessment must be defined with great clarity and openness. • No impact measure has a one-to-one relationship with activities, but every activity can be informed by an impact plan. • Avoid changing those things measured by how they are measured. • Time is a factor in measuring change, mini-plans within the bigger impact agenda are needed to measure impact.
  10. 10. @SimonTanner Conceptual overview of the BVI Model
  11. 11. @SimonTanner Balancing Strategies with Values Economic Innovation OperationalSocial Utility Community ExistenceEducation Inheritance
  12. 12. @SimonTanner Stakeholders are defined as: a person, group, community, or organisation who affects or can be affected by the ecosystem of the digital resource.
  13. 13. @SimonTanner 4 Strategic Perspectives
  14. 14. @SimonTanner 4 Strategic Perspectives Social Impact Rich digital content is available for existing and new audiences— placing content in every home and hand to share and make new personal experiences. This resource has changed our stakeholders' behaviour in ways that link to benefits in education, social life, community cohesion, a sense of place and improved welfare. Indicator: A more socially and culturally aware community.
  15. 15. 4 Strategic Perspectives Economic Impact Because of these changes we are also delivering substantial economic benefits to our stakeholders that demonstrate the worth and value of our endeavours in clear monetary terms. Indicator: An associated growth in economic activity to indicate that new wealth creation opportunities are occurring.
  16. 16. @SimonTanner 4 Strategic Perspectives Innovation Impact Innovation in the building of the digital resource and its functionality means we are gaining a strategic advantage in a vital area of activity for the future sustainability of services and engagement. Indicator: Growth in the extent and range of innovative and creative activity.
  17. 17. @SimonTanner 4 Strategic Perspectives Operational Impact This digital resource enables our organisation to be more effective and efficient in delivering change and resultant benefits to stakeholders: both internally and externally. Indicator: Growth in usage, increased capacity to respond to user demand.
  18. 18. @SimonTanner “The word ‘value’ describes an idea about economics, an idea about personal expression and an idea about morality.” Dave O’Brien Sometimes value is described as an economic marker for worth or how much a product or service is valued compared to others, as indicated by price or willingness to pay. At other times value is used as an arbiter for preference, satisfaction, aesthetics or taste at any given moment. Morality means that value can also be viewed on an axis of moral and ethical debate against factors such as security, integrity, authenticity and validation. Often these may be seen as in tension with each other. O'Brien, Dave. 2014. Cultural policy: management, value and modernity in the creative industries. Values are More than Money
  19. 19. @SimonTanner Values are Individual AND Shared Impact is expressed through values. Value is individually understood and attributed BUT collectively shared and thus magnified. In a digital world this presents the challenge of increasingly individualised and personalised interactions, simultaneously viewed and shared with others through social lenses in call and response loops.
  20. 20. @SimonTanner Modes of Digital Value
  21. 21. @SimonTanner Utility Value The value and benefits directly gained by people through active use of the digital resource now or sometime in the future.
  22. 22. @SimonTanner Education Value The value and benefits directly gained by people from their own or others ability to learn and gain knowledge (formally or informally) from a digital resource.
  23. 23. @SimonTanner Existence and/or Prestige Value The value and benefits people derive from knowing that a digital resource exists and is cherished by a community; regardless of whether the resource is personally used or not.
  24. 24. @SimonTanner Community Value The value and benefits directly gained by people from the experience of being part of a community engaging with, or afforded by, a digital resource.
  25. 25. @SimonTanner Inheritance / Legacy Value The value and benefits derived by people from the ability to pass forward or receive digital resources between generations and communities.
  26. 26. @SimonTanner Balancing Strategies with Values Economic Innovation OperationalSocial Utility Community ExistenceEducation Inheritance
  27. 27. @SimonTanner Building the BVI Framework
  28. 28. Time to VOTE! Which Value most represents your personal sense of the highest priority for digital collections Community Education Existence Inheritance Utility / Prestige / Legacy
  29. 29. Questions and (hopefully) Answers! 2 minutes to discuss your possible question with your neighbours Questions have a ? at the end Encourage early career folk or those who don’t often ask questions
  30. 30. Questions and (hopefully) Answers! Questions have a ? at the end Encourage early career folk or those who don’t often ask questions
  31. 31. Europeana Collections = 3,500 memory institutions 58 million objects, 12 thematic collections, 151 curated galleries. 1 million accesses per month
  32. 32. Twitter: @SimonTanner
  33. 33. Twitter: @SimonTanner Utility Value Utility
  34. 34. Twitter: @SimonTanner Community Value Community
  35. 35. 30% DISCOUNT! email and quote the code IMPACTDIGRES19
  36. 36. Professor Simon Tanner Drawings by Alice Maggs The Balanced Value Impact Model