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Return on Investment in Meetings and Events - Tools and Techniques to Measure the Success of all Types of Meetings and Events (Hardcover)
Loot Price: R4,557
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Return on Investment in Meetings and Events - Tools and Techniques to Measure the Success of all Types of Meetings and Events (Hardcover)
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The Phillips ROI Methodology (TM) utilizes five levels of
evaluation, which are essential in determining the return on
investment. At Level 1 - Reaction and Planned Action, attendee and
stakeholder satisfaction from the meeting can be measured. Almost
all organizations evaluate at Level 1, usually with a generic,
end-of-meeting questionnaire. While this level of evaluation is
important as a "stakeholder" satisfaction measure, a favorable
reaction does not ensure that attendees have acquired new skills,
knowledge, opinions or attitudes from the meeting. At Level 2 -
Learning, measurements focus on what participants learned during
the meeting using tests, skill practices, role-plays, simulations,
group evaluations, and other assessment tools. A learning check is
helpful to ensure that attendees have absorbed the meeting material
or messages and know how to use or apply it properly. It is also
important at this level to determine the quantity and quality of
new professional contacts acquired and whether existing
professional contacts were strengthened due to the meeting.
However, a positive measure at this level is no guarantee that what
was learned or whether the professional contacts acquired will be
used on the job. At Level 3 - Job Applications, a variety of
follow-up methods can be used to determine if attendees applied on
the job what they learned or acquired at the meeting. The frequency
and use of skills are important measures at Level 3. While Level 3
evaluations are important to gauge the success of the meeting, it
still does not guarantee that there will be a positive business
impact in the organization or for the attendee. At Level 4 -
Business Results, the measurement focuses on the actual business
results achieved by meeting participants as they successfully apply
the meeting material or messages. Typical Level 4 measures include
output, sales, quality, costs, time and customer satisfaction.
Although the meeting may produce a measurable business impact,
there is still a concern that the meeting may cost too much. At
Level 5 - Return on Investment, this ultimate level of measurement
compares the monetary benefits from the meeting with the
fully-loaded meeting costs as expressed in the ROI formula. All
levels of evaluation must be conducted in order to determine the
ROI of a meeting or event. The data collected should show a chain
of impact occurring through the levels as the skills and knowledge
learned (Level 2) are applied on the job (Level 3) to produce
business results (Level 4).
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