Impact And Social Value
Building better social value, impact, and sustainability measures is crucial for demonstrating the VCFSE sector’s value in creating positive change within community-led placemaking activities. Ultimately, robust social value and sustainability measures strengthen the case for investment in community-focused efforts, amplifying the reach and effectiveness of services that benefit society.
All About The Place has selected the Social Value Engine as its preferred tool for measuring the impact and social value of community-led placemaking projects. After exploring a range of social value measurement tools, the Social Value Engine was chosen as the most effective solution for applying recognised measures and generating meaningful insights into the outcomes delivered by these projects.
Social Value Measure Tools Being Investigated
The Social Value Engine was jointly developed and is co-owned by Rose Regeneration and East Riding of Yorkshire Council in response to the Public Services (Social Value Act 2012), which requires public bodies to think about how they can secure wider social, economic and environmental benefits.
The engine works alongside and has incorporated the Social Return on Investment (SROI) methodology and the eight Social Value International principles.