Key Terminology Flashcards
Well-being
A state of being comfortable, healthy or happy reflecting a comprehensive measure of both individual and collective health and prosperity extends beyond physical health to encompass mental social and environmental dimensions
Aspects of well-being
The main elements of a persons life that contribute to the overall level of well-being. An extensive body of research exists regarding what the main aspects or dimensions of well-being. These are often assembled into lists or well-being frameworks and used as a set of things to measure to help understand how well-being levels go up or down.
Outcomes
Aspects of well-being that could change for a stakeholder as a consequence of an activity
Well-defined outcomes
The specific aspects of well-being, within a sequence of outcomes, that provides the best opportunity to optimise overall well-being. Identify this specific aspect and point in a sequence of ‘things that change’ requires meaning for stakeholder engagement.
Outcome depth
The amount and direction of change in an outcome experienced by stakeholders between two points in time
Outcome depth levels
Data points for an outcome that can be measured at any given moment in time (e.g. baseline, midpoint, endpoint)
Indicators
Metrics, instruments or tools that capture outcome levels to provide an outcome depth
Outcome scale
The number of people that experience outcome depth
Outcome duration
The length of time that a stakeholder continually experiences the outcome depth
Outcome drop-off
The rate of decline in the outcome depth overtime. The rate is expressed as a percentage in relation to the outcome generation.
Outcome thresholds
Pre determined outcome levels that are required by specific point in time for the outcome depth to be considered positive or negative performance
Outcome target
Predetermined outcome levels
An ambitious outcome target
Predetermined outcome level to be achieved by specific point in time that would provide stakeholders with optimal well-being
Outcome results
Comparing the outcome depth against outcome, thresholds and targets to determine a positive or negative performance. Note: a positive change in an outcome may not meet an outcome threshold or an outcome target and therefore would not be considered a positive performance
Impact
How much of the outcome depth and outcome duration is caused by the activity
How much impact
Sum of all the impacts caused by the activity
Attribution
How much others contributed to impact of activity
Counterfactual
Estimation of what would have happened to beneficiaries if the intervention had not happened
Value
How much something is worth or how important is to stakeholders
Outcome depth value
The relative or importance of the outcome depth expressed by the stakeholders experiencing the change
Impact value
The relative worth or importance of the impact
Social value
Quantification of the relative importance that people place on the changes they experience in their lives. Involves measuring not only the financial outcomes but capturing the social environmental and economic impact of an activity and placing a value on that impact from the perspective of those affected by it.
Social return on investment
The monetary expression of the total impact value generated from a defined activity relative to the value of the inputs required for the activity
Inputs or dependencies
The financial and non-financial resources required to deliver the activities. Inputs may be owned by the organisation or by those it is dependent on.
Materiality
An impact is material when it is relevant and significant for decisions to optimise well-being of a stakeholder group. Significance is based on the combination of a impact scale. B impact value C total impact value. Outcomes and therefore impacts are not significant can also be considered material if they are relevant to organisational objectives and/or relate to society norms
Intrinsic Outcomes
These refer to outcomes that have value in themselves. For example, improving someone’s health or well-being, increasing their happiness, or enhancing their sense of dignity. These outcomes are valued for their inherent benefits to individuals or communities, rather than for any further benefits they might lead to.
Functional Outcomes:
These outcomes are valuable because they lead to other benefits or outcomes. They are instrumental in achieving further ends. For instance, providing education or job training might be seen as a functional outcome because these interventions lead to improved employment opportunities, which then lead to better economic stability and higher quality of life.
