How do I quantify the impact of my CSR Projects?

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CSR in India has traveled through different phases, such as community engagement, socially responsible production and socially responsible employee relations. Initially, it was more about philanthropic endeavors that were performed but not deliberated and documented. However, after the CSR ACT 2013, the awareness towards CSR as a management concept is increasing. CSR funds are an investment, and for every investment, it is imperative to measure the returns.

The CSR mandate in India brought a cultural change among the Indian businesses by leveraging the expertise of companies for social development initiatives. It is an ideal case that the social investment being undertaken by corporations must bring about qualitative impact through the CSR initiatives. Evaluating the effectiveness of CSR programs is one of the most important steps in the end-to-end implementation of programs.

Impact Assessment (IA) is a vital component to assess and analyze the effect of the project activities in the lives of the beneficiaries. It enables us to realize the relevant economic, social and environmental impact of a project. The practice precisely focuses on learning and analysis.

At Fiinovation, our approach of embedding common indicators of impact assessment and economic valuation has set us apart in the sector and has created a unique niche for us. Throughout the IA process, the team has to use realistic methods and tools depending on the project, its vision & mission, output/outcome of the program, Monitoring reports, Evaluation reports and any other documents available.

The indicator matrix allows recommending sustainability mapping which is followed by a well-drafted Impact Assessment Report. Impact Assessment process includes

1. Review of intervention and the planning process

2. Consultations with targeted stakeholders

3. Area exploration

4. Consultation with various departments within the organization

5. Analysis of findings & data collation

6. Summary and presentation of findings of the IA report

7. Forwarding IA findings to the Board

8. Publication of the IA report (as per partner's requirement)

Our methodology consists of baseline-endline surveys, control group comparisons among others. The data collection tools include personal interviews, focus group discussions and administering questionnaires or a combination.

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