Is Programme Evaluation the Same as Social Impact Measurement?

Abstract

This study provides an analysis of the practical and theoretical differences in Social Impact Measurements (SIM) – as defined and is core to Impact Investing – and Programme Evaluation (PE) used in Monitoring and Evaluation (M&E). The study is the result of an inspiring effort to converge experiences of both Impact Investment practitioners and investment managers, with those of Programme Evaluators and M&E specialists. A meeting during the AEA’s (American Evaluation Association) ImpaCon conference in Atlanta in 2017. The effort was to facilitate co-learning in order to improve and grow the Impact Investing industry. The study analyses qualitative survey responses from a purposively selected panel of experts including: experienced SIM practitioners and scholars, impact investment managers, programme evaluators and evaluation scholars. Responses are deductively analysed to provide thematic reactions to the research questions. Even though there is a common theoretical intent to determine intervention worth in both SIM and PE, and a common adherence to principles of evaluative thinking; the study concludes that there are clear theoretical and practical differences in participatory and utilisation approach, efficiency and rigour.

Keywords:

• Evaluation
• impact measurement
• impact investing
• social impact

Disclosure statement

No potential conflict of interest was reported by the author.