5 Who will carry out the work?
Can you undertake the SROI analysis internally, or will you need to bring in external
help? Make sure you have the right mix of skills and support from the start.
Generally, you will need skills or experience in finance, accounting, evaluation and
involving stakeholders.
Stag
6 The range of activities on which you will focus
Stag
e 1
Will you be analysing all the activities of your organisation, or just specific ones?
e 1
You might want to separate the activities related to a particular source of funding,or
those that are a priority for you. Keep your scope small if it is the first time you are
doing an SROI analysis.
Clearly describe what you intend to measure. For example, if the activity was
‘our work with young people’, this may cover several departments within your
organisation and you may actually mean something more specific, like ‘mentoring
support provided to young people’.
7 The period of time over which the intervention will be considered
SROI analysis is often annual, corresponding with annual financial accounting
timescales. This can vary. For instance, a commissioner may want an evaluation of a
specified timescale.
8 Whether the analysis is a forecast or an evaluation
If this is your first SROI report it will be much less time-consuming to prepare a
forecast than to conduct an evaluative SROI analysis, unless you have the right
outcomes data available. Otherwise, a forecast SROI analysis will help you to put in
place a measurement framework so that you can come back to do evaluative SROI in
the future.
Top Tip: Keep good records
Good record keeping is essential to successfully completing an SROI analysis.
When you get to Stage 6, you will see that the SROI report needs to contain a
lot more than just the calculation of the social return. It needs to document the
decisions and assumptions you made along the way. Keeping a dedicated record of
your planning and progress from the start will make writing the report a lot easier.
Adjusting the scope
Adjusting your scope in response to new information is good practice and not unusual.
In particular, you may wish to review your scope after considering the numbers and
types of stakeholders you need to involve. This will determine the resources required
and it may mean you need to start with fewer activities.
The worked example – scope
Wheels-to-Meals is a charity that works with older people. Wheels-to-Meals provides
transport for its members to come to a centre, where they are provided with hot,
nutritious lunches. While at the centre, members have the opportunity to socialise,
attend workshops on health and related issues, and take mild exercise.
A guide to Social Return on Investment 1
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