One of the key barriers to Social Value is the ability to value what matters most to ones stakeholders.
Social Value International recently released their standard on Social Values 3rd principle: valuing the things that matter. The standard provides comprehensive technical guidance for applying the Social Value principles with a focus on valuation; providing an account of Social Value based on material outcomes.
Some of the key areas required in effective valuation are:
- Identifying the outcomes that are/will be delivered
- defining what changes to those outcomes
- applying the appropriate valuation approach
- managing the risk of the approach(s)
Follow the link for the standard of Principle 3 and the full detail.
If you are struggling to effectively value the impact being delivered by your initiatives and through your projects then this could be a key resource for you. Even if you are already undertaking effective valuation it may help support your further development.
Announcing Standard on applying Principle 3: Value the things that matter