Consulting

Use ROI Institute’s Expertise and Support for Your Next Evaluation Project

Important, expensive, and strategic projects often receive a high level of scrutiny. Supporters, sponsors, and top executives–along with critics—all want to know if the project is working. Is it a good investment? What is the impact? What is the ROI?

Fortunately, there is a credible evaluation process to accurately measure the impact and calculate the ROI of your projects. The ROI Methodology®, the most used evaluation system in the world, generates credible data that will satisfy top executives while gaining the support of the chief financial officer.

About ROI Institute Consulting Services

ROI Institute’s consulting services provide assistance with assessment, measurement, analytics, and evaluation to individuals and organizations. Our core offering is conducting impact and ROI studies on various projects and programs. ROI Institute provides an independent assessment of a project, measuring reaction, learning, application, impact, ROI, and intangibles. Program effects on improved measures are isolated, and barriers and enablers are identified to reflect how the project can be more successful.

There are three ways to conduct an ROI evaluation of a major project:

 

ROI Institute will provide an independent evaluation of your important project or program. This has been accomplished extensively in more than 50 countries in all types of industries, settings, organizations, and functional areas.

An ROI evaluation study begins with planning how the evaluation data will be collected, analyzed, and reported. The data collection instruments are selected, designed, and implemented. Data are collected, tabulated, and various analyses are performed. Analysis includes isolating the effects of the program on the impact data, converting data to money, and calculating the ROI. The ROI calculation compares the net program benefits to the program costs. Intangible measures, those measures that cannot be easily and credibly converted to money but are connected to the program, are identified and captured. The evaluation ends with compiling a comprehensive report that provides the following data categories:

  1. The reaction to the project;
  2. The learning that was necessary to make the project successful;
  3. How the participants (users) have made the project successful with their actions;
  4. The impact of the project, connecting the project to important measures in the organization;
  5. The financial ROI and intangibles linked to the project.

The study also includes conclusions and recommendations. Barriers and enablers are identified to show how the project can be more successful. Projects range from studies involving a small group of individuals to large-scale evaluations spanning multiple months or years.

The independent study may be used as an important tool in your organization, sharing the process and its results with your team at every step. Hundreds of organizations have been successful with this process. This is an ideal way to validate the success of a program and gain knowledge about the program and what needs to improve to achieve even greater results.

This collaboration can range from your team doing most of the work with ROI Institute’s coaching, advice, and assistance to ROI Institute doing the majority of the work with your observation and participation. Either way, we can help you complete the evaluation study.

The figure below shows the consultant’s role in developing impact studies, ranging from conducting the study (performing) to reviewing the completed study. This figure shows the relative relationship between the consulting effort and the client effort.

  • Performing: The consultant develops the project independently of the client and presents the impact study.
  • Sharing: There is a sharing of information along the way so the consultant is routinely communicating, providing feedback, and explaining the methodology to the client.
  • Partnering: The consultant partners with a client so that they jointly conduct the study, each with respective duties and responsibilities.
  • Coaching: The consultant coaches the person conducting the study, usually one-on-one, through different steps of the process.
  • Reviewing: The consultant reviews the study after its completion by the client.

Regardless of the level of collaboration you choose, the outcome is a credible study completed with your participation and involvement as your team learns the ROI Methodology.

Through the ROI Certification® process, we can teach you and your team how to conduct ROI evaluation studies. This comprehensive certification process teaches you how to conduct studies and provides virtual support as you progress. After completing your first study, you will receive the designation of Certified ROI Professional® (CRP). More than 15,000 managers and specialists have participated in this credentialing process.

ROI Certification is a globally renowned process focused on measuring the true value of tough-to-measure initiatives using the ROI Methodology. Participating in ROI Certification is the most comprehensive way to gain the skills to evaluate your major projects and programs, and report the results to drive organizational improvements.

ROI Certification is usually comprised of a five-day, in-person course and followed by one-on-one virtual assistance from an ROI Consultant to help you conduct your first Impact/ROI evaluation study (a comprehensive report of results using the methodology). Upon demonstrating competency in applying the ROI Methodology, you will earn the prestigious Certified ROI Professional (CRP) designation, joining an elite group of professionals who have earned this respected credential.

The typical ROI Certification process includes:

  • Prework: Identify a project or program for evaluation and prepare for ROI basics.
  • Workshop: Five days of content-rich, interactive sessions focused on your project evaluation.
  • Workbook and Materials: A valuable, 300-page, action-oriented workbook and several books to use as references.
  • Virtual Assistance: One-on-one support with your evaluation, review, and approval of your ROI study.
  • Right to Use Materials at Work: You have the right to reproduce our materials for use inside your organization with clients and colleagues.
  • Certified ROI Professional (CRP) Designation: A unique, sought-after credential.

Other Consulting Services

In addition to impact studies, ROI Institute provides consultative support to meet your specific needs.

 

Needs assessment studies are typical. A performance analysis is often needed to determine the cause of a particular problem or the value of an opportunity and make sure that the problem or opportunity is aligned with the business. Additional analysis may be needed to determine the proper solution (or solutions) to improve the business measures.

Analysis also involves developing forecasts of specific projects. Both impact and ROI can be forecasted in advance of any development or implementation work.

Placing a monetary value on measures such as employee turnover, customer complaints, or customer satisfaction are possible tasks as well.

Analysis also involves developing relationships between variables and developing predictive models.

A variety of advice categories are possible such as planning an ROI study. For example, a one-day meeting with a client to develop the evaluation plan is a very helpful consulting activity. In some cases, the consultant is advising the client on a variety of issues. In other situations, the consultant reviews the progress, data, steps, and accountability issues to help the client bring additional accountability to solutions.

An ROI coach provides support where an evaluation strategy is developed, ROI implementation is planned, or the ROI progress is reviewed. These can be very important strategic-level meetings involving the functional executive, depending upon the target audience. The outcome is an evaluation strategy plan to be implemented, an ROI implementation plan to be executed, or a progress report that is generated to serve as a measure of success with implementation.

There are different fees connected to each of these different services, all of which are offered to provide the client with a complete range of possibilities. The ROI Institute’s philosophy is to transfer as much capability to the client as possible.