Social Return on Investment (SROI) Framework for Measuring the Real Value of Sungai Muda Flood Mitigation Program
Keywords:value for money, social return on investment, social return
Movement towards modern eco climate has seen an increasing interest in measuring the social impact of projects, programs, organizations, activities, businesses and policies. Everybody seems eager to know the ‘real value’ of the activities they carried out. Governments have a strong imperative responsibility to measure the social impact of policies, programs and funded activities. Managers would like to know the performance they have been achieved so far, with a chance to improve for continuous efficiency and effectiveness. Investors want to demonstrate the social value their money is creating. Corporations are showing interest in social investment. Corporate social responsibility would love to share the social benefits as a result from the social work they have done. Social return on investment (SROI) has emerged as an approach to meet these demands, as it has been promoted as a more holistic approach to demonstrate the value for money. Hence, this article attempts to investigate the real value of flood mitigation program in Sungai Muda, Kedah as a case study to examine the usefulness of the SROI method. SROI analysis offers a mixed methods framework which involves both qualitative and quantitative data that helps to measure, manage and give a better understanding about the impacts of Sungai Muda Flood Mitigation Program with emphasizing the element of value for money. This study has found a positive social return expressing by the SROI ratio comprised of social, economic and environmental outcomes. The result shows that the SROI framework can indeed help the governments, managers, investors, corporations and corporate social responsibility to place social and environmental aims on a par with economic ones.