ROI Institute will provide an independent evaluation of your important project or program. This has been accomplished extensively in more than 50 countries in all types of industries, settings, organizations, and functional areas.
An ROI evaluation study begins with planning how the evaluation data will be collected, analyzed, and reported. The data collection instruments are selected, designed, and implemented. Data are collected, tabulated, and various analyses are performed. Analysis includes isolating the effects of the program on the impact data, converting data to money, and calculating the ROI. The ROI calculation compares the net program benefits to the program costs. Intangible measures, those measures that cannot be easily and credibly converted to money but are connected to the program, are identified and captured. The evaluation ends with compiling a comprehensive report that provides the following data categories:
- The reaction to the project;
- The learning that was necessary to make the project successful;
- How the participants (users) have made the project successful with their actions;
- The impact of the project, connecting the project to important measures in the
- The financial ROI and intangibles linked to the project.
The study also includes conclusions and recommendations. Barriers and enablers are identified to show how the project can be more successful. Projects range from studies involving a small group of individuals to large-scale evaluations spanning multiple months or years.
The independent study may be used as an important tool in your organization, sharing the process and its results with your team at every step. Hundreds of organizations have been successful with this process. This is an ideal way to validate the success of a program and gain knowledge about the program and what needs to improve to achieve even greater results.