Objectives of the group
Good results measurement is a priority for all members of the DCED. The RMWG was therefore formed in 2008, to identify ways in which the DCED can contribute meaningfully to improvement of practice on the ground, at scale.
One element emerging in answer to this question was to codify good-practice monitoring, using a mixed-methods, theory-based approach (‘the DCED Standard’). The RMWG has also aimed to put in place an extensive system of support and incentives to enable the implementation of the approach on the ground.
A second element has been to work with members to identify common indicators widely used in Private Sector Development projects, and to short-list and document the application of the most popular ones.
The RMWG also aims to explore other themes, including for example results measurement in impact investing, from a donor perspective.
The RMWG supervised the development of the DCED Standard for Results Measurement, which provides programmes with the framework, and an incentive, to monitor their own results according to good practice. Credibility is assured through external audit of the measurement process. An increasing number of programmes are working towards compliance with the Standard, and formal audits are being implemented.
The RMWG has also worked on harmonising PSD indicators, publishing the outcome of the first phase of this exercise in 2016. The full report detailing the initial outcome of the harmonisation exercise is available here. Subsequently, Methodological Guidance for 5 PSD Indicators has also been published, in 2018.
In 2016, the RMWG published A Preliminary Review of Results Measurement in Impact Investment, which surveys results measurement work of the impact investing and social enterprise communities. For a 2-page summary, click here. Two further studies were published on Results Measurement in Impact Investment:
- Impact investing: Measurement valued by investee businesses, DCED, 2017.
- Attribution in Results Measurement: Rationale and Hurdles for Impact Investors, DCED, 2017.
The current focus is on support to the roll-out of the DCED Standard for Results Measurement, through further guidance and training for practitioners and auditors, and further dissemination through DCED members. Results measurement in the time of COVID-19 is an emerging theme, looking for example at remote measurement techniques.