(17 Jul 2020) IFLA’s new document, “Return on Investment” measures how much value an organisation, project or service has generated for each monetary unit invested in it. This approach originates in the economic field of study, and libraries have adopted (and adapted) this method to measure their own value and impact.
The methods of measuring ROI and quantifying the value of libraries’ work vary across different studies – and, understandably, distinct library types take on significantly different roles, which is why there is also variation between methods of measuring and quantifying benefits across library sectors.
This publication reviews the way different types of libraries have measured the value of their work and return on investment over the last ten years. As library services evolve, so does their understanding of how to assess their value and impacts – and this review aims to illustrate the various approaches to measuring library ROI between and within different sectors.
The full text can be downloaded here.