The profile of economic analysis in charities’ and funders’ impact measurement practice has increased in recent years, as the sector finds itself under more pressure to produce estimates of what value is being created for every pound invested. But it can be a daunting task to approach, and many organisations may not have the know-how.
This briefing paper aims to demystify economic analysis, and to outline some basic principles of best practice, for organisations thinking about using the method. In it, we explain:
- What economic analysis is and why it is important
- How to decide if economic analysis is right for your organisation
- How to get started and some basic principles to follow
This report is a write-up of an event that took place as part of NPC’s seminar series—in partnership with Kingston Smith—designed to give charities an introduction to various aspects of impact measurement. For more from this series, keep an eye on our twitter page @NPCthinks and the event hashtag #impactseminar, or see the events section of our website.