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Melissa Brown, Director of Partnerships
ROI Institute, Inc.
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Email: Melissa@roiinstitute.net
www.roiinstitute.net

Press Release
Birmingham, AL

ROI Institute Launches ROI Estimator

Birmingham, Alabamaโ€”April 4, 2024. ROI Institute announces the release of the ROI Estimator, a new tool that allows individuals to estimate the ROI on planned program design and implementation.

Why This is Needed
One of the concerns about program implementation is that it may not deliver the expected value. The key to ensuring success is effective design and implementation. Knowing if a program will deliver the desired results as it is currently planned is crucial. Knowing what to change to improve it is even more important. The ROI Estimator addresses both issues. The ROI Estimator will be a valuable tool for anyone interested in implementing a new project or program.

How it was Developed
The ROI Estimator is based on research using 2,000 ROI studies in talent development to understand the success factors leading to results. The analysis showed what factors contributed to a better ROI. In the end, eight factors were identified that, when properly addressed, will ensure a program will deliver a positive ROI. This research was partially funded by Warwick Conferences, a conference, meetings, and events business based at the University of Warwick in Coventry, United Kingdom.

According to Jack J. Phillips, Ph.D., chairman of ROI Institute and the developer of the ROI Methodology, “This is the most significant research that we’ve conducted to date. It was important to clearly understand the effect of different design parameters on program results. For example, we all know if a program starts with the impact measure in the beginning, it is more likely to drive that measure at the end. This is only one of the eight key factors that were identified.”

The research identified the top eight factors and assigned a weight based on the significance of each factor. This was distilled into an algorithm that estimates the ROI within error limits. As part of the process, the estimator shows where changes can be made to improve the program and ultimately the ROI.

How to Use it
“Individuals planning a program might use the estimator to determine the potential value of their proposed program,” added Patti P. Phillips, Ph.D., CEO of ROI Institute. “Input is based on the proposed design around the eight factors, and results will be presented along with prescriptions on how to improve it. This tool is designed to help program owners design programs for better results.”

“We envision this to be the standard tool for people to use as they begin any new major and significant project or program,” said Ann Akins, president of ROI Institute. “The genius of this tool is its simplicity. It’s easy to use and quickly reveals potential advantages or deficiencies with your current design. It’s intuitive and prescriptive at the same time.”

Optimization is the Key
The principal purpose of this estimator is to optimize the value of the investment in talent development. Talent development is needed now more than ever as organizations face many challenges. Talent development programs are becoming more expensive, and it is important for major programs to deliver the desired results.

“We know executives want to see the impact and ROI for major programs,” explained Patti Phillips. “It’s important to ensure that talent development professionals deliver these results. To do so, they must design programs and implementation strategies around key elements known to drive positive outcomes.”

Warwick Conferences funded this project because of a research projectย about the importance of ROI. Their research report concluded that ROI is important, executives expect it, and it is here to stay.

The Challenge
“To make sure that this is a credible, valid, and useful tool, we want users to follow through and conduct ROI studies comparing the actual to the forecast,” added Jack Phillips. “We need hundreds, if not thousands, of people to use this tool, follow through with an actual ROI calculation, and compare the results. If there are inaccuracies in the algorithm, we will use the results to make adjustments.”

Join us for an exclusive webinar on April 16, 2024, to learn how to optimize your investments with the ROI Estimator.

Register for Webinar

About ROI Instituteยฎ

ROI Institute, Inc. assists professionals in improving programs and processes using the ROI Methodologyยฎ developed by Dr. Jack J. Phillips and Dr. Patti P. Phillips. This Methodology is the global leader in measurement and evaluation, including the use of return on investment in non-traditional applications. ROI Institute regularly offers workshops, provides consulting, publishes books and case studies through major publishers, and conducts research on the use of measurement and ROI. Working with more than one hundred ROI consultants, ROI Institute applies the ROI Methodology in 20 fields in over 70 countries. ROI Institute authors have written or edited over 100 books, translated into 38 languages. Organizations build internal capability with the help of ROI Institute and its ROI Certification process. For more information on ROI Institute, please contact info@roiinstitute.net or visit www.roiinstitute.net.

ROI Instituteยฎ, ROI Methodologyยฎ, Certified ROI Professionalยฎ, and ROI Certificationยฎ are registered trademarks owned by ROI Institute, Inc. and are used by others only with written permission of Jack and Patti Phillips.