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Return on Investment

Return on Investment. Future directions, opportunities and challenges. Rachel Esson Head of Research and Learning Services, Victoria University Library September 2010. Quiz. ROI CIT ZOT SMART SMARTER TARDIS. Quiz. ROI = Return on Investment CIT = Critical incident technique

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Return on Investment

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  1. Return on Investment Future directions, opportunities and challenges Rachel Esson Head of Research and Learning Services, Victoria University Library September 2010

  2. Quiz • ROI • CIT • ZOT • SMART • SMARTER • TARDIS

  3. Quiz • ROI = Return on Investment • CIT = Critical incident technique • ZOT = Zone of tolerance • SMART = Specific, Measurable, Agreed, Realistic, Time-bound • SMARTER = Ethical, Recorded • TARDIS = Time And Relative Dimensions In Space

  4. Future directions • More accountability • Aligning evaluation and the tools used to the organisations strategic goals • Using evaluation frameworks • Evidence based practice

  5. Evidence-based practice • Step 1: Ask a well-built question • Step 2: Acquire articles and other evidence-based resources that answer the question • Step 3: Appraising the evidence to assess its validity • Step 4: Apply the evidence • Step 5: Analyse the application of evidence and areas for improvement http://www.ebbp.org/steps.html

  6. Challenges and opportunities • Keep up with technology • Keep up with trends www.trendwatching.com • 10 Tips for Tracking Trends By Elisabeth Doucett http://americanlibrariesmagazine.org/features/05112010/10-tips-tracking-trends

  7. Challenges and opportunities Museums, Libraries, and 21st Century Skills http://imls21stcenturyskills.org/ 2oth Century skills 21st Century skills 10-15 jobs (US Dept Labour 2004) Mastery of many rapidly changing fields Global Non-routine, creative Learner centred, self-directed, lifelong learning Multidirectional • 1-2 jobs • Mastery of one field • Local job competition • Work model = hands on, routine, fact based • Education = formal degree attainment • Organisational = culture top down

  8. Recommendations for surveys Pre-notification Personalised cover letters Shorter questionnaires Print format surveys have better response rates than online surveys Incentives offered at the time of the survey can increase responses.

  9. “Impact measurement should be seen to have a positive outcome, even if feedback is negative.  Whatever results you get, you should use the evaluation in a positive way, by allowing it to inform the improvement and enhancement of your services.” Kirby,J., Liddard,L. & Moore,K. (1998) Empowering the information user. London, Library Association.

  10. Take home messages • Links to organisational strategic goals • Outcomes rather than outputs • Use more than one method • CIT, Mystery shoppers, ZOT, • Always positive even if negative

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