UCL School of Management Professor Paolo Taticchi, OMRI, along with Chiara Andreoli, Catrina Daly, Chiara Cremasco, Dr. Jan Dauman, have co-authored the second, updated version of the “Guidelines for Participatory Impact Measurement and Management” as part of the IMmPACT Research project.
This report tackles the crucial issue of power imbalances in decision-making that influences the dynamics of impact projects. The guidelines introduce a multi-stakeholder decision-making framework for measuring and managing impact, advocating for a systemic approach. This updated version is enriched with practical case studies from Argos Wityu, Three Hills Capital Partners, Mercato Metropolitano, Banca Etica, 60 Decibels, and The Good Economy. These case studies not only showcase emerging leading practices in impact measurement and management but have significantly enhanced the guidelines with practical insights.
Furthermore, the new version of the guidelines highlight existing and effective frameworks, guidelines, and other resources that have been referenced, such as Impact Weighted Accounts (Harvard Business School), Governance of Impact (Esade Business School), the Impact Term Sheet (LISI), Lean Data Approach (Acumen), and the EVPA Practical Guide to Venture Philanthropy and Social Impact Investment. These references offer practitioners proven tools and guidance for defining and measuring impact.
Developed through continuous interactions with influential impact investing practitioners, the guidelines emphasise the importance of collaboration and deliberative practices across various phases of impact investments. By adopting this framework, practitioners can engage in structured participatory decision-making for measuring and managing impact, that ultimately can create a more meaningful impact for a broader array of stakeholders.
The publication of this report was made possible by the generous support of the John Ryder Memorial Trust.