How much does an SROI analysis cost?
The simple answer is that it depends. You will need to assess the resources you will need and how much they will cost.
The variables that will inform how much an SROI analysis will cost include:
- whether the analysis is for internal management purposes or intended for public distribution
- the size of the organisation and the activity under consideration
- the timescale over which material outcomes occur
- whether you are considering a forecast or an evaluation
- the existence of information on relevant outcomes and research that provides evidence of outcomes
- the level of existing staff skills
The cost could also cover:
- both external support and internal staff
- the cost of implementing any changes that are proposed following an SROI analysis
It is also possible to start working through the Guide to SROI and see how far you can get until you think you need support, remembering that support will often be available elsewhere in your organisation.
Find out more by contacting us