Valuing benefits: What value are we trying to capture? webinar, 25 ...

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Valuing Benefits
What value are we
trying to capture?

2
Tim Goodspeed, morethanoutputs
SROI Practitioner, accredited by

3
WHY?
HOW?
• Common purposes for valuation
• Approaches that include valuation
• Valuation techniques

What value are we trying to capture?
There’s lots of different types of value:
– Financial Value
– Economic Value
– Fiscal...

Qty
40
60
60
In a service - example
Rights and Allowances advice for older people
Outcome +/-
Improved Health +
Increased ...

Value
7
How much would you pay for a
nice new iPhone?

Qty
40
60
60
In a service - example
Rights and Allowances advice for older people
Outcome +/-
Improved Health +
Increased ...

Why? Technical
10
• To include benefits on a level playing field with
costs and financial information; to better inform
(b...

Why? Purpose and Decisions
11
What do you think?

Why? Purpose and Decisions
12
Purpose Audience Rigour
Justify funding and
investment
External High
Promote or publicise
be...

Objectives
Monitoring Objectives
Outcomes Intended

Unintended +ve
Unintended -ve
Objectives
Benefit Evaluation
Outcomes IntendedActivities

Unintended +ve
Unintended -ve
Objectives
Social Return on Investment
Framework for
deciding on
important
outcomes:
- Quant...

Prioritisation
50%
40%
10%
80%
20%
10%
50%
40%
50%
50%
1,000
500
400
100
50
250
200
50
100%
80%
20%
100%
100%
100%
100%
10...

Valuation - methods
• Cost-related methods
– Changes in money
– Changes in resource availability
• Value-based methods
– S...

Value
Price
Cost
Market Place Values
[Source: Peter Scholten]

Financial Proxies
Consider independence of older people as an benefit.
What we really need is a market for independence, f...

SROI Example:
Wheels-to-Meals’ story of change
Value of independence:
• Less spent on home help, 4 weeks costs (£1,260)
Bu...

SROI Example:
Wheels-to-Meals’ story of change
In this example, the financial proxy
• Less spent on home help, 4 weeks cos...

SROI Example:
Wheels-to-Meals’ story of change
Put the following in order of preference to have:
a) A yr’s subscription to...

SROI Example:
Wheels-to-Meals’ story of change
The data showed the top 3 were:
1. A new car £21,375 (£7,125 a year)
2. Mai...

Values for people:
Contingent valuation - WTP
Int J Health Care Finance Econ. 2013 Dec;13(3-4):233-45. doi: 10.1007/s10754...

Discrete Choice Experiments
27

New methods for measuring value: Wellbeing
valuation (WV) approach
• Usually use a global
measure of wellbeing
such as lif...

What’s available?
AUDIENCE CREDIBILITY REALITY
• Government academic
published research
• Statistically analysed
• Large s...

Were Always
Above Average
Still Below
Average
The Average
Moved
Different people, different needs

What value?
1. Be clear whose definition of benefits you want
to value (scope and results)
2. Use values and techniques th...

This presentation was delivered
at an APM webinar
To find out more about
upcoming webinars please visit
our website
www.ap...

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