By: Hal  09-12-2011

In determining the appropriate approach for socio-economic analysis, two things need to be considered. First is the subject matter. The benefits and costs of many programs are varied and difficult to measure. Second is the audience. Many programs have a diversity of stakeholders, and each will be interested in different benefits and different costs. Therefore, the benefits and costs cannot, and should not, be reduced to a single monetary number.

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Performance Measurement

Increased scrutiny of government spending, both from inside and outside government, and a need to ensure public trust has meant that organizations receiving public funds must clearly achieve and demonstrate continuing improvements in efficiency, effectiveness, and impact. For years organizations have sought ways to effectively measure their performance against plan and to then clearly understand the meaning and cause for any resulting variances.


Socio-Economic Impact Analysis

Estimation of Marginal Benefits by User Segment and Industry Segment – Through consultations with the providers and users of a program, and an understanding of their characteristics gained from the literature review, the benefits that will accrue to each into the future are estimated. This hides the pros and cons of an initiative from stakeholders and therefore benefit-cost analysis is a poor tool for gaining support among different groups.


Industry Cluster Analysis

Current Performance consists of three constructs that measure the cluster’s significance in terms of the number and size of core firms, the breadth of their responsibilities, and their reach to distant markets; interactions within the cluster and with the rest of the world; and the cluster’s dynamism in terms of innovativeness and growth.


Program Evaluation

Examining the rationale for programs both existing and proposed; measuring achievements of objectives; assessing impacts and effects of programs; determining more cost-effective methods to achieve objectives; and recommending future directions. The Treasury Board policy is that departments are responsible for strategically evaluating their own policies and programs and for using the findings in decision-making and accountability reporting.