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Basics of Benefits ManagementA benefit is a result that a stakeholder perceives to be of
value.
Benefits Management is the identification, definition, planning, tracking and realisation of business benefits
Social Return on Investment (SROI) is a framework for measuring and accounting for a broad concept of value; it seeks to reduce inequality and environmental degradation and improve wellbeing by incorporating
social, environmental and economic costs and benefits.
Benefits can be more than profit
Not-for-profit - how to measure return on investment?
• Savings on other possible costs to the public purse
• A value assigned to Quality of Life, or Happiness
• Future impact on the economy
For Profit and Commercial
• Customer satisfaction – an indicator of future business
• Staff satisfaction – R&R and productivity
• IP portfolio
Change happens because people make it happen A clear vision
A way to measure progress
A clear connection between what is done and what is achieved
Something that motivates people (The basic benefits questions of any Change):
• Who is it all actually for?
• What do they really want out of it?
• What makes this choice better than Plan B?
Considering Social Return on Investment
(and any other investment which plans to achieve more than PROFIT)
1. Establish Scope and identify key stakeholders (Stakeholder Mapping and real Engagement)
2. Map outcomes (impact map/ theory of change) including 2nd and 3rd level impacts
3. Evidence outcomes and give them a value (Value is only what is described by stakeholder. What numbers are defendable?)
4. Establish impact (what would have happened anyway? What is attributed to what?)
5. Calculating SROI – and if you want to do it properly, sensitivity analysis
6. Reporting, using and embedding
Who doesn’t like SROI, and alternatives to SROI
If everyone can be measured using the same framework – exposure(!)
Using untrustworthy numbers or anecdotes – whoever let fact spoil a good opinion?
LM3, Environmental Impact Analysis, Return on Investment, SROI-lite
WIIFM
Take one of the stakeholders from the centre and list the non-financial benefits they want to see
A benefit is a result that a stakeholder perceives to be of
value.
Measuring the SROI
Care Commissioners want to see empowered patients (on the assumption that empowered patients take more care of themselves and so make less demand on resources)
Empowerment:
• Understand their condition and what they can do about it (scale?)
• Take action to self-manage (scale?)
• Impact on other resource use
The calculations for Empowered patients How many people are more empowered?
How much are they more empowered (may need to segment into types of empowerment)?
What difference does it make:
• Quality of Life (and what’s our value assigned? Who for?)
• Happiness (value assigned)
• Use of resources (over next 12 months, next 36 months, next 5 years?) – predicted based on experience/ research
What would have happened anyway?
What’s the normal progression of disease/ decrepitude? (without empowerment)
• When do they need residential care?
• When do they need hospital care?
• What’s changed in society’s attitudes?
How much would this normally cost?
Benefits Mapping
Map the links from 1 Patient, 1 Record to More Empowered Patients and through to the BSC Objectives
Use the Information Project template as a guide
What gets you up in the morning?
Nobody comes in to work to do a bad job (well, almost nobody)
We all want to make adifference – make theworld a better place
Very few people work just for the money*
• Osterloh & Frey 2007 Does pay for performance really motivate employees?• PwC NextGen 2013: Millennial workers want …
“I can tell my grandchildren ‘I did a good job this week’ “
Driving improvement
We (the people who talk to the client/ do the work) see the need/problem first!
We know what to do about it (have the most experience)
We can inspire*
We won’t resist our own design for change
(a new problem – managing configuration)
Malcolm Gladwell – Tipping Point
Hugo Minney
PhD, RPP
Acc Prac SROI M APM, PRINCE2 07786 961837
David Waller
MBA MBCS CEng CITP
07780 533876