Return on Investment in Meetings and Events : Tools and Techniques to Measure the Success of All Types of Meetings and Events.

ISBN:

9780080557113

Title:

Author:

Breining, M. Theresa.

Personal Author:

Breining, M. Theresa.

Physical Description:

1 online resource (302 pages)

Contents:

Cover -- Return on Investment in Meetings and Events -- Copyright -- Contents -- Preface -- About The Authors -- Acknowledgments -- Foreword -- 1. The Need For The Roi Methodology In The Meetings And Events Industry -- Industry Efforts For Meeting Professionals International -- Gaylord Hotels: Delivering Value Is The Key -- Roi Institute, Inc.: Dispelling The Myths Is A Critical Issue -- Concepts Worldwide: The Language Of Business -- The Chapter Perspective: Cracking The Roi Code -- The Debate About Roi -- The Fifth Element -- The Great Debate -- Roi Will Not Go Away -- Roi Issues -- The Ultimate Level Of Evaluation: Roi -- Best Practices -- Roi Myths -- The Benefits Of Roi -- Final Thoughts -- References -- 2. The Roi Methodology: A Brief Overview -- A Paradigm Shift -- Key Steps And Issues -- Stakeholders -- Levels And Steps -- Chain Of Impact -- The Roi Process Model -- Objectives -- Evaluation Planning -- Data Collection -- Analysis -- Isolation Of The Effects Of Meetings -- Conversion Of Data To Monetary Values -- The Cost Of Meetings -- The Return On Investment Calculation -- Intangible Benefits -- Data Reporting -- Operating Standards -- Implementation Issues -- Final Thoughts -- 3. The Alignment: Defining Needs And Objectives -- The Meeting Planner's Role In Alignment -- The First Alignment Opportunity: Needs Analysis -- Linking Need With Evaluation -- Business Alignment -- Payoff Needs -- Probe For Details -- Obvious Versus Not So Obvious -- The Reasons For Meetings And Events -- Determining Costs Of The Problem -- The Value Of Opportunity -- To Forecast Or Not To Forecast -- Business Needs -- Define The Measure-hard Data -- Define The Business Need-soft Data -- Tangible Versus Intangible-a Better Approach -- Data Sources -- Identifying All The Measures -- Performance Needs -- Learning Needs -- Subject Matter Experts.

Job And Task Analysis -- Observations -- Demonstrations -- Tests -- Management Assessment -- Preference Needs -- Input Needs -- Developing Objectives For Meetings And Events -- Input Objectives -- Reaction Objectives -- Learning Objectives -- Application And Implementation Objectives -- Impact Objectives -- Roi Objectives -- The Importance Of Specific Objectives -- Case Study -- Background -- Initial Needs Assessment -- The Meeting -- How To Make The Transition -- Final Thoughts -- Reference -- 4. Measuring Inputs And Indicators -- The Importance Of Measuring Inputs And Indicators -- Input Categories -- Tracking Meetings And Events-topics And Themes -- Tracking People -- Tracking Duration -- Tracking Coverage -- Tracking Requests -- Tracking Technology Use -- Tracking Costs -- Tracking Efficiencies -- Tracking Outsourcing -- Key Issues -- Final Thoughts -- Reference -- 5. Measuring Reaction And Perceived Value -- Importance Of Measuring Reaction And Perceived Value -- Customer Service -- Forecasting Capability -- For Some, This Is The Most Important Data -- Compare Data With Other Meetings -- Macro-level Scorecards -- Data Collection Issues -- Sources Of Data -- Content Versus Non-content -- The Deceptive Feedback Cycle -- Key Areas For Feedback -- Data Collection Timing -- Questionnaires And Surveys -- Designing Questionnaires/surveys -- Intensities -- Samples Surveys -- Securing High Response Rates -- Interviews And Focus Groups -- Improving Reaction Evaluation -- Keep Responses Anonymous -- Have A Neutral Person Collect The Feedback -- Provide A Copy In Advance -- Explain The Purpose Of The Feedback And How It Will Be Used -- Explore An Ongoing Evaluation -- Consider Quantifying Ratings -- Collect Information Related To Improvement -- Allow Ample Time For Completing The Form -- Delayed Evaluation -- Ask For Honest Feedback -- Using Data.

Monitor Customer Satisfaction -- Identify Strengths And Weaknesses -- Evaluate Speakers -- Determine Participant Needs -- Evaluate Planned Improvements -- Develop Norms And Standards -- Link With Follow-up Data -- Marketing Future Meetings -- Building The Macro-level Scorecard -- Final Thoughts -- References -- 6. Measuring Learning And Confidence -- The Importance Of Measuring Learning -- Learning Versus Entertaining -- The Learning Organization -- The Compliance Issue -- The Development And Use Of Competencies -- The Role Of Learning In Meetings And Events -- The Chain Of Impact -- Consequences Of An Unprepared Workforce -- Measurement Issues -- The Challenges Of Measuring Learning -- Objectives -- Typical Measures -- Timing -- Data Collection Methods -- Questionnaires And Surveys -- Objective Tests -- Performance Tests -- Technology And Task Simulations -- Case Studies -- Role Playing And Skill Practices -- Exercises/activities -- Informal Assessments -- Administrative Issues -- Reliability And Validity -- Consistency -- Monitoring -- Pilot Testing -- Readability -- Scoring -- Reporting -- Confronting Test Failures -- Using Learning Data -- Ensuring That Learning Has Been Acquired -- Providing Individual Feedback To Build Confidence -- Improving The Meeting -- Evaluating Speakers -- Building A Database -- Final Thoughts -- References -- 7. Measuring Application And Implementation -- The Importance Of Measuring Application -- The Value Of Information -- A Key Transition Time -- A Key Focus Of Many Meetings -- Barriers And Enablers -- Challenges Of Measuring Application And Implementation -- Linking With Learning -- Designing Data Collection Into Meetings And Events -- Applying Serious Effort To Level 3 Evaluation -- Fundamental Issues -- Methods -- Objectives -- Topics To Explore -- Sources And Timing -- Responsibilities.

Data Collection With Questionnaires And Surveys -- Content -- Content Checklist -- Improving Response Rates -- Data Collection With Interviews -- Types Of Interviews -- Interview Guidelines -- Data Collection With Focus Groups -- Applications For Focus Group Evaluation -- Guidelines -- On-the-job Observation -- Guidelines For Effective Observation -- Selection Of Observers -- Specific Observation Methods -- The Use Of Action Plans And Follow-up Assignments -- Developing The Action Plan -- Successful Use Of Action Plans -- Action Plan Advantages And Disadvantages -- The Use Of Performance Contracts -- Barriers To Success -- Data Use -- Report And Review Results -- Adjust Design And Implementation -- Identify And Remove Barriers -- Identify And Enhance Enablers -- Recognize Successful Individuals -- Reinforce Desired Actions -- Improve Management Support -- Market Future Meetings Or Events -- Final Thoughts -- 8. Measuring And Isolating The Impact Of Meetings And Events -- Importance Of Measuring Business Impact -- Higher-level Data -- A Business Driver For Meetings And Events -- Monetary Data -- Easy To Measure -- Types Of Impact Measures -- Hard Versus Soft Data -- Tangible Versus Intangible -- Specific Measures Linked To Meetings -- Business Performance Data Monitoring -- Identify Appropriate Measures -- Convert Current Measures To Usable Ones -- Develop New Measures -- The Use Of Action Plans To Measure Business Impact Data -- Set Goals And Targets -- Complete The Action Plan -- Define The Unit Of Measure -- Place A Monetary Value On Each Improvement -- Implement The Action Plan -- Provide Specific Improvements -- Isolate The Effects Of The Meeting -- Provide A Confidence Level For Estimates -- Collect Action Plans At Specified Time Intervals -- Summarize The Data And Calculate The Roi -- Advantages Of Action Plans.

The Use Of Performance Contracts To Measure Business Impact -- The Use Of Questionnaires To Collect Business Data -- When You Do Not Have A Clue -- When The Measure Is A Defined Set -- When The Measure Is Known -- Response Rates -- Isolate The Effects Of The Meeting -- Use Of Control Groups -- Case Study-international Software Company -- Concerns About Control Groups -- Making It Work -- Use Of Trend Line Analysis -- When To Use It -- Case Studies -- Using Estimates -- Questionnaire Or Interview Approach -- Focus Group Approach -- Estimates From Others -- Final Thoughts -- References -- 9. Monetary Benefits, Costs, And Roi -- The Importance Of Monetary Benefits And Roi -- Value Sometimes Equals Money -- Money Is Necessary For Roi -- Monetary Value Is Needed To Understand Problems -- Key Steps To Convert Data To Monetary Values -- Standard Monetary Values -- Converting Output Data To Money -- Converting Quality To Monetary Values -- Converting Employee Time To Money -- Finding Standard Values -- Data Conversion When Standard Values Are Not Available -- Using Historical Costs From Records -- Using Input From Experts To Convert Data -- Using Values From External Databases -- Linking With Other Measures -- Using Estimates -- Selecting The Conversion Method -- Use The Technique Appropriate For The Type Of Data -- Move From Most Accurate To Least Accurate -- Consider The Resources -- When Estimates Are Sought, Use The Source With The Broadest Perspective On The Issue -- Use Multiple Techniques When Feasible -- Apply The Credibility Test -- Review The Client's Needs -- Is This Another Project? -- Consider The Short-term/long-term Issue -- Consider An Adjustment For The Time Value Of Money -- Monitoring Meeting Costs -- Fundamental Cost Issues -- Major Cost Categories -- Initial Analysis And Needs Assessment -- Design, Development, And Production.

Acquisition Costs.

Local Note:

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

Subject Term:

Business meetings -- Evaluation.;Trade shows -- Evaluation.;Special events -- Evaluation.;Congresses and conventions -- Evaluation.;Seminars -- Evaluation.;Rate of return.

Added Author:

Phillips, Jack J.

Format:

Electronic Resources

Electronic Access:

Click here to view book

Publication Date:

2008

Publication Information:

Burlington :

Routledge,

2008.

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
658.456	1:E-BOOK	1	1:ON-DEMAND	Searching... Unknown

Bound With These Titles

On Order

Summary

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).

Author Notes

Jack J. Phillips, M. Theresa Breining, Patricia Pulliam Phillips