Social Impact 🟢 Impact Strategy 🟢 Theory of Change ✴️ Impact Measurement
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- Опубліковано 13 лип 2024
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00:00:00 Impact Strategy Introduction
00:01:11 Don't start from scratch.
00:01:42 Theory of Change is the foundation.
00:02:32 Impact Metrics
00:03:15 Quality of impact metrics
00:03:40 Context of Indicators
00:04:22 Alignment with Sustainable Development Goals
00:04:48 Alignment with Impact Management Project
* Impact Strategy * Theory of Change * Impact Management Project * Sustainable Development Goals * GIIN IRIS+ * Monitoring and Evaluation
Ready to define social impact measurement strategy or monitoring and evaluation for social enterprise or nonprofits? Monitoring and Evaluation strategy for international development organization or INGO?
Impact Management Strategy for grantmaker, impact funds or social impact accelerator?
You start with step by step business plan and iterate them through a lean startup approach and go on to build the most successful pitch deck before you raise capital.
So, don’t start this journey without an impact strategy. Let me teach you to step by step 8 principles before you go to the investors for impact measurement, monitoring and evaluation
Don't start from scratch.
Chances are that some in impact community have built impact strategy. For example, if you are an impact investor go look no farther than GIIN. GIIN recently came up with IRIS+ taxonomy and impact themes. For example, let’s say your focus is on financial inclusion or the healthcare delivery system. Just browse IRIS+ profiles on the GIIN website and boom! Add metrics that are relevant to your needs and remove metrics that you don’t that’s it!
Theory of Change is the foundation.
While I admit that not everyone is familiar with the theory of change, this is one foundational element for those who want to demonstrate impact evidence.
The first step to building a theory of change is the Impact Statement.
Impact Statement starts with, “What is the problem that we are trying to solve?” Impact Statement is often derived from your mission and vision but is quite definitive.
Impact Statement leads to Impact, Outcome, Output, Activities, and Input. Building this out creates a systematic theory of change. You can use our free actionable impact management eBook on the SoPact website, which gives you step by step guide for building program structure and theory of change.
Based on how you design a theory of change, it leads to the Impact Metrics.
Impact Metrics
Impact Metrics are critical in defining an organization or program change that you are seeking. They are also crucial for communicating progress to the funders. Often standard metrics should be used to communicate if you are making true progress towards impact statement. For example, impact investors often use IRIS metrics, corporations use GRI or SASB to designate materiality, charity often uses Guidestar, and so on.
While standard impact metrics are often useful, they are not sufficient. Often many internal impact metrics, operational impact metrics need to be complimented before you complete a selection. These metrics leads to correct impact measurement and impact management of your portfolio.
Quality of impact metrics
While Indicators are useful, the quality of indicators is even more critical.
Context of Indicators
While impact metrics are defined from one particular lens, it may mean different things to different partners using the same metrics. For example, the number of low-income stakeholders may mean a different thing in different parts of the world.
Alignment with Sustainable Development Goals
While communicating your impact, especially when you raise investments, often investors and enterprises look for alignment with Sustainable Development Goals, SDG Targets, and Indicators. In fact, without this alignment, funders usually don’t even start a real conversation for funding.
Alignment with Impact Management Project
Impact Management Project defines five dimensions of the impact that allows both investors and entrepreneurs to further understand stakeholder, type of impact, depth of impact, contribution and risk associated with an impact
Impact Evidence
Finally, the last and most essential principle is to align your data sources for different programs, stakeholders, outcome surveys, and operational with the impact metrics.
Aligning data with metrics allows us to monitor the progress of key indicators, build robust impact evidence, and track the outcome of stakeholders regularly.
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Wow, this is a super informative video!!!
Great tips Chris! Very helpful for my non-profit to use these tips to start building impact strategy and manage impact evidence to fundraise.
Amazing resources, Sopact Team.Thank you so much for doing these short, helpful videos. Chris Gaines is a star.
Glad you like them!
Thank Madhu and Hetal. Yes, the impact journey starts here! There are many new insightful videos will be published regularly, so stay tuned and subscribe to channel.
Hey I am using my investment fund to apply your services, as a partner! Get back to me on mikepapaiacovou@yahoo.com to set up an e-meeting!
Your contents are rich, effective, full of knowledge and understandable
Thanks Abdul Hakeem. Pleasing to find out that it was useful for you. Have a great day!
Great
Love your presetation and your work. Keep it up. I'm going to apply the above process to our organisation Wild Community Ecovillage Fund and Foundation and do the course. Thanks Mike.
Thank you! Will do!
Thank you!!!
Welcome!
Good Information, Thanks.
These videos are great, as are the resources on the SoPact website. However, I would like to download the impact management strategy ebook that is mentioned and could not. I completed the forms and still could not download the ebooks that are offered on the website.
Please send me email to unmesh@sopact.com. I will email you.
We fixed download link
Designing a systematic impact strategy, and a sound social impact measurement framework, from the outset, is a must. Any impact-focused organization benefits from having this clearly defined, especially the following organizations. Learn more: www.sopact.com/social-impact-strategy
More about the theory of change can be found here: www.sopact.com/theory-of-change
Please pin this comment. Thanks for the great page. You have gained a subscriber.
More resources here: www.sopact.com/social-impact-strategy
www.sopact.com/theory-of-change
Looks good, but everything will be done to please the donors not make sure impact indeed happens among the target populations of poor people
This video is just part of a big puzzle. You should understand the full picture. Here is how we see the process: ua-cam.com/video/D2gbRiQZB2g/v-deo.html