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Measuring Economic Impact - Overview - January 2012 Rupert Greenhalgh Director: NES Consulting
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],New Economic Strategies
Performance framework ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Headline indicators (1) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Headline indicators (2) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Headline indicators (3) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Example 1: Setting Targets and Monitoring Indicators
Condition indicators (1) ,[object Object],Condition Indicator Data / definitions GVA per employment in transformational sectors £GVA in constant prices Stock of VAT registrations per 10,000 working age residents VAT registered enterprises % of small businesses in area showing GVA growth VAT registered enterprises Workforce median weekly wages All employees working within region
Condition indicators (2) ,[object Object],Condition Indicator Data / definitions Total GVA from Advanced Manufacturing £GVA in constant prices Proportion of enterprise turnover due to new or significantly improved products Local enterprise survey Perception of region as a place of innovation & business opportunity Local, national & international perceptions from commissioned surveys Number of patents granted to enterprises in the region Patents granted (not applications)
Condition indicators (3) ,[object Object],Condition Indicator Data / definitions New VAT registrations per 10,000 working age residents Working age population aged 16-64 yrs Stock of VAT registrations - cohort surviving 36 months VAT registered as % of original cohort of start-ups 36 months previous % of small businesses in an area showing employment growth % of total SME’s growing in last 12 months % of 16 to 24 year olds not in employment, education or training (NEET) National definition for NEET
Condition indicators (4) ,[object Object],Condition Indicator Data / definitions Number of new graduate level jobs created through inward investment each year Assisted by regional stakeholders in last 12 months Number of Foreign Direct Investment (FDI) projects in region each year New FDI projects locating within year Annual perception survey with key national (public & private sector) stakeholders  Commissioned survey supported by range of qualitative measures Number of trade enquiries through inward investment agencies Monitoring information of key partners Number of targeted communications published aimed at key stakeholders Monitoring information of key partners
Condition indicators (5) ,[object Object],Condition Indicator Data / definitions % of working age residents qualified to Level 2+ Working age population aged 16-64 yrs % of working age residents qualified to Level 4+ Working age population aged 16-64 yrs % of working age employees in LCR qualified to Level 4+ Working age population aged 16-64 yrs % of 15 year olds getting 5 or more GCSE/GNVQs at grades A*-C Pupils in public & private education % of working age residents undertaking job related training Working age 16 to 64 years within last 13 weeks of survey
Condition indicators (6) ,[object Object],Condition Indicator Data / definitions Amount of accommodation floor-space brought forward (sq m) Commissioned survey supported by range of qualitative measures Value of Local Economic Multipliers (LM3) secured through major developments Commissioned survey supported by range of qualitative measures
`Strategic Added Value  (SAV) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],Some other considerations: Implementation
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],And finally…
Linking project to impacts & addressing ‘gross to net’
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Valuing costs and benefits (1)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Valuing costs and benefits (2)
[object Object],Policy conditions Rationale Inputs Activities Intended Outcomes Outputs Intended Impacts Programme Objectives Project:
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Valuing costs and benefits (3)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Resources
[object Object],[object Object],[object Object],[object Object],Contact us at New Economic Strategies

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Nes measuring imapct jan 2012

Notas do Editor

  1. Provides equity-like investment & h&s-on advice for scalable & sustainable social enterprises The £12m fund raised from foundations & private investors, & supported by £39m investment by OCS Majority of investments are in underserved areas – addresses funding gap often faced by fast growing social enterprises 32 of the 34 investments made through the Venture Funds by 2010 made in companies operating in most deprived areas
  2. Provides equity-like investment & h&s-on advice for scalable & sustainable social enterprises The £12m fund raised from foundations & private investors, & supported by £39m investment by OCS Majority of investments are in underserved areas – addresses funding gap often faced by fast growing social enterprises 32 of the 34 investments made through the Venture Funds by 2010 made in companies operating in most deprived areas
  3. This section to frame what we need to do in terms of responses over the coming years. Prompt for ideas from them Ask them to make a list of 2/3 key questions for regen in the future (in small groups)
  4. For flip chart 20 employees are given the chance of using a new car park close to work for £5 per day or parking further away from work for free – but involving an extra 10 minutes walk. Their decisions reveal how much they value time. If they all choose to spend the £5 per day on car parking, this reveals that time is more important to them than 50p per minute. If only half take up the car parking option, this reveals that average value of time to them was 50p per minute. Hard choices made in markets are the best guide to private benefit. Information contained in the demand curve tells us much about how much people are willing and able to pay for something. This is important in revealed preference theory. When consumers make purchases at market prices they reveal that the things they buy are at least as beneficial to them as the money they relinquish.
  5. For flip chart 20 employees are given the chance of using a new car park close to work for £5 per day or parking further away from work for free – but involving an extra 10 minutes walk. Their decisions reveal how much they value time. If they all choose to spend the £5 per day on car parking, this reveals that time is more important to them than 50p per minute. If only half take up the car parking option, this reveals that average value of time to them was 50p per minute. Hard choices made in markets are the best guide to private benefit. Information contained in the demand curve tells us much about how much people are willing and able to pay for something. This is important in revealed preference theory. When consumers make purchases at market prices they reveal that the things they buy are at least as beneficial to them as the money they relinquish.