Objectives of the group
When the Results Measurement Working Group was formed in 2008, no standards or guidelines were available for good practice in monitoring. The objectives of the Group have therefore been to improve effectiveness, and to generate more data about achievements, through best-practice monitoring based on clear articulation of the programme logic (results chains) and harmonised indicators for PSD.
The RM WG 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.
In 2016, the RM WG 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 RM WG 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.
The DCED website includes many supporting documents on the Standard, including an introductory Reader, Implementation Guidelines and case studies on the application of the Standard. This set of resources continues to be updated and expanded. The Standard itself will be further refined in the light of the experience of programmes applying it.
Further work on results measurement in impact investing, and on indicator harmonisation, remain to be discussed.