Purpose Clarity of purpose is integral to implementing a Return on Investment Framework. This maintains focus and helps to specify the parameters. Studies have used ROI for various reasons. These include business improvement through supporting new technologies and improving workforce efficiency, workplace health and safety learning (Brown, et al 2015) and as part of funding agreements (IPP, 2012). Key questions Why are stakeholders measuring ROI? How will ROI information be used? ROI Evaluation Framework The purpose of this paper is to highlight the issues involved with structuring an evaluative ROI framework that aims to: Develop a practical, coherent and transparent methodology Measure on the basis of selective and useful variables and Produce the most compelling evidence possible based on what data are available. A review of the issues in measuring ROI in the literature helps to identify the key elements that constitute an Evaluation Framework. These are represented in the diagram in Table 1. Table 1 ROI Evaluation Framework elements Context, scope and purpose, as discussed in the first section of this report, form the foundation of the framework. The other components are presented separately in the following sections along with steps and methods to guide the process. Guiding principles The first step is to develop guiding principles to follow and apply a consistent and standard frame of judgement to the ROI evaluation. These include the following: The ROI model/method adopted: Must be customised, fit for purpose and add-value. Requires an overarching clarity of purpose Measures factors that matter Measures factors that are specific, in context and within an identified group. The implementation of the ROI model considers: Is it practical and useful?
Purpose Clarity of purpose is integral to implementing a Return on Investment Framework. This maintains focus and helps to specify the parameters. Studies have used ROI for various reasons. These include business improvement through supporting new technologies and improving workforce efficiency, workplace health and safety learning (Brown, et al 2015) and as part of funding agreements (IPP, 2012). Key questions Why are stakeholders measuring ROI? How will ROI information be used? ROI Evaluation Framework The purpose of this paper is to highlight the issues involved with structuring an evaluative ROI framework that aims to: Develop a practical, coherent and transparent methodology Measure on the basis of selective and useful variables and Produce the most compelling evidence possible based on what data are available. A review of the issues in measuring ROI in the literature helps to identify the key elements that constitute an Evaluation Framework. These are represented in the diagram in Table 1. Table 1 ROI Evaluation Framework elements Context, scope and purpose, as discussed in the first section of this report, form the foundation of the framework. The other components are presented separately in the following sections along with steps and methods to guide the process. Guiding principles The first step is to develop guiding principles to follow and apply a consistent and standard frame of judgement to the ROI evaluation. These include the following: The ROI model/method adopted: Must be customised, fit for purpose and add-value. Requires an overarching clarity of purpose Measures factors that matter Measures factors that are specific, in context and within an identified group. The implementation of the ROI model considers: Is it practical and useful?
Evaluation-framework-measuring-ROI-in-TVET.docx