Intr Intr
oduction oduction
• Pr ogramme/pre-procurement – forecast SROI analyses can be used at the strategic
planning stage to decide how to set up a programme, for market testing and to
determine scope and specification of contracts.
• Application/bidding – forecast SROI analyses can be used to assess which applicant
or bidder is likely to create the most value. (Where applicants or bidders are already
delivering the intervention that is being invested in, evaluative SROI can be used at
the application/bidding stage.)
• Monitoring and evaluation/contract management – evaluative SROI analyses can be
used to monitor the performance of a successful applicant or contractor.
Using SROI to inform public sector commissioning decisions is in line with HM
Treasury guidance on value for money appraisals.
4
HM Treasury states that value for
money assessments should be based on the ‘optimum combination of whole-of-life
costs and quality (or fitness for purpose) of the goods or service to meet the user’s
requirement’. These costs and benefits must include ‘wider social and environmental
costs and benefits for which there is no market price’.
5
For developing policy
SROI can be used by organisations that develop public policy, for which recognition
of social value is important. For example, it has been used to compare the value of
investing in support-focused community penalties for women offenders as opposed to
sending them to prison.
6
Skills required to analyse the SROI report
Carrying out an SROI analysis requires a mixed set of skills. It will be helpful if
you have prior experience of engaging stakeholders, outcomes measurement or
evaluation, using Microsoft’s Excel software and basic accounting skills. Even if you
have experience in these areas, it may still be helpful to attend a training course. You
can also bring in help from within your organisation, although, in the absence of this,
you may need to arrange some external support.
Time requirement
Giving exact guidance on timescales is difficult because it is contingent on many
factors, including scope, skills level and data availability, and whether you will be using
the report for internal management or external reporting purposes.
All new measurement systems take some resources to implement. However, there are
ways to keep the resources you require to a minimum. You could start with a project
or contract rather than the whole organisation, or you could start with a forecast SROI
analysis, especially when looking at a new business or a new activity. A forecast
SROI analysis for internal management purposes, for example to help design
information systems, would not need to be as detailed as a report you were planning
on making public.
4
www.hm-treasury.gov.uk/data_greenbook_money_sustainability.htm
5 F urther guidance on the use of SROI in public sector commissioning
is available on the SROI Network website,www.thesroinetwork.org
6 Unlocking value, nef
12 A guide to Social Return on Investment
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