Embedded Files
P I L O T
It is essential to understand your initiative’s effectiveness by measuring progress over time. By selecting the right indicators to define data points for tracking, you will be able to establish effective monitoring and achieve your desired outcomes. Those indicators can be quantitative or qualitative or a mix to create a better understanding of how to get to your short, medium or long-term outcomes. The key is defining meaningful measures that will inform your strategy.
It is essential to understand your initiative’s effectiveness by measuring progress over time. By selecting the right indicators to define data points for tracking, you will be able to establish effective monitoring and achieve your desired outcomes. Those indicators can be quantitative or qualitative or a mix to create a better understanding of how to get to your short, medium or long-term outcomes. The key is defining meaningful measures that will inform your strategy.
Step-by step guide
Define Indicators
Robust indicators and measures are essential: they have to be specific, time-bound and accurate for inputs, outputs and outcomes.
Process Indicators
Start with Process Indicators, which answer the question “Is my solution being implemented as planned?” Here you can track a list of inputs and outputs you want to keep your eye on. Frequency, sale or quality could be good examples - use the below template to list them out in the following manner:
# Of (resource/activity/product) that are (delivered/distributed / accessed) during X amount of time, E.g. Number of financial planning training sessions delivered per quarter
# Of (customers/population) who have been (reached by/ attended/purchased) an (activity/service/product) during X amount of time, E.g. number of young women between 20-35 who complete +4 financial planning training per year
Outcome Indicators
Then, carry on with Outcome Indicators, which answer the question “Is my solution achieving its goals?” Here you can track a list of outcomes, such as shifts in knowledge or behaviour, you want to keep your eye on. Think about monitoring the proportion of your customers that achieve your initiative’s desired outcome - use the below template to list it out in the following manner:
% Of (customers/population) reached by initiative who (changed their attitude/behaviour/performance) during X amount of time, E.g. % of young women between 20-35 who have completed +4 financial planning training per year have demonstrated improved knowledge of household budgeting
Collect data
Go through all of your indicators and prioritise a set that includes your financial and operational targets. Socialise those with the key stakeholders and agree on the frequency of monitoring the chosen indicators. Make sure to monitor and evaluate these measures and continue to make corrective adjustments. If not limited by resources, carry out a benchmarking exercise by comparing your performance indicators with your competitors - have a look at the Desk Research method to learn how to conduct a market assessment. Looking at where you are lagging in comparison to your peers can help direct your pilot’s efforts onto the right path.
Notes: Download link is available for TNB Staffs only
Page updated
Report abuse