Assessment Resource
| ID | INDIGO-ARES-0068 |
|---|---|
| Assessment Resource - Status | PUBLIC |
| Assessment Resource - Name | Local Multiplier 3 (LM3) |
| Assessment Resource - Who? - Public Sector | NO |
| Assessment Resource - Who? - Private Sector | YES |
| Assessment Resource - Who? - Third Sector | YES |
| Assessment Resource - Output Format - Agnostic | NO |
| Assessment Resource - Output Format - Monetary Valuation | YES |
| Assessment Resource - Output Format - Non-monetary quant index | NO |
| Assessment Resource - Output Format - Ordinal | NO |
| Assessment Resource - Output Format - Qualitative only | NO |
| Assessment Resource - Output Format - Quant but no index | NO |
| Assessment Resource - Time frame? - Ongoing | NO |
| Assessment Resource - Time frame? - Prospective | NO |
| Assessment Resource - Time frame? - Retrospective | YES |
| Assessment Resource - Scale? - Agnostic | NO |
| Assessment Resource - Scale? - Micro | NO |
| Assessment Resource - Scale? - Meso | YES |
| Assessment Resource - Scale? - Macro | NO |
| Assessment Resource - Impact Goal - Agnostic | NO |
| Assessment Resource - Impact Goal - Defence | NO |
| Assessment Resource - Impact Goal - Democracy | NO |
| Assessment Resource - Impact Goal - Development/ Poverty Reduction | NO |
| Assessment Resource - Impact Goal - Education | NO |
| Assessment Resource - Impact Goal - Employment/ Financial well-being | NO |
| Assessment Resource - Impact Goal - Health | NO |
| Assessment Resource - Impact Goal - Housing | YES |
| Assessment Resource - Impact Goal - Local rejuvenation | NO |
| Assessment Resource - Impact Goal - SDG oriented | NO |
| Assessment Resource - Impact Goal - Social impact | NO |
| Assessment Resource - Impact Goal - Sustainability/ Eco | NO |
| Assessment Resource - Impact Goal - Well-being | NO |
| Assessment Resource - Type - Case Study | NO |
| Assessment Resource - Type - Classification | NO |
| Assessment Resource - Type - Consultancy | NO |
| Assessment Resource - Type - Framework | YES |
| Assessment Resource - Type - Guide | NO |
| Assessment Resource - Type - Dataset | NO |
| Assessment Resource - Type - Principles | NO |
| Assessment Resource - Type - Reporting Standards | NO |
| Assessment Resource - Type - Resource Repository or Summary | NO |
| Assessment Resource - Type - Tool | NO |
| Assessment Resource - Type - Training Programme | NO |
| Assessment Resource - Sourcing? - Agnostic | NO |
| Assessment Resource - Sourcing? - Outsource to Vendor | NO |
| Assessment Resource - Sourcing? - Paid tool | NO |
| Assessment Resource - Sourcing? - Proprietary in-house | NO |
| Assessment Resource - Sourcing? - Self-driven | YES |
| Assessment Resource - Method? - Attribution | YES |
| Assessment Resource - Method? - Diff-in-Diff statistical analysis | NO |
| Assessment Resource - Method? - Ex-ante projections | NO |
| Assessment Resource - Method? - Focus Groups | NO |
| Assessment Resource - Method? - Framework agnostic | NO |
| Assessment Resource - Method? - Interviews | YES |
| Assessment Resource - Method? - Mission Alignment | NO |
| Assessment Resource - Method? - Observation | NO |
| Assessment Resource - Method? - Operational Data | NO |
| Assessment Resource - Method? - RCTs | NO |
| Assessment Resource - Method? - Surveys | YES |
| Assessment Resource - Method? - Theory of Change | NO |
| Assessment Resource - Method? - Before and After | NO |
| Assessment Resource - Used in sectors? - Charity | NO |
| Assessment Resource - Used in sectors? - CSR | NO |
| Assessment Resource - Used in sectors? - Development | NO |
| Assessment Resource - Used in sectors? - Governance/ Policy | YES |
| Assessment Resource - Used in sectors? - Green Book | NO |
| Assessment Resource - Used in sectors? - Healthcare | NO |
| Assessment Resource - Used in sectors? - Housing | YES |
| Assessment Resource - Used in sectors? - IGOs | NO |
| Assessment Resource - Used in sectors? - Impact investing | NO |
| Assessment Resource - Used in sectors? - Microfinance | NO |
| Assessment Resource - Used in sectors? - SIBs | NO |
| Assessment Resource - Used in sectors? - Social Enterprises | YES |
| Assessment Resource - Used in sectors? - Sustainability/ Eco | NO |
| Assessment Resource - Used in sectors? - Developed Countries | YES |
| Assessment Resource - Used in sectors? - Developing Countries | NO |
| Assessment Resource - Internal / External? - Internal | YES |
| Assessment Resource - Internal / External? - External | YES |
| Assessment Resource - Leader | New Economic Foundation (NEF) |
| Assessment Resource - Purpose | Local Multiplier 3 (LM3) was developed by the New Economics Foundation as a simple and understandable way of measuring local economic impact. It is designed to help people to think about local money flows and how their organisation can practically improve its local economic impact, as well as influence the public sector to consider the impact of its procurement decisions. It was designed to be quick and relatively easy, and to highlight where an organisation can improve its impact. |
| Assessment Resource - Content | LM3 shows external bodies (funders, public bodies) the value of funding or contracting with the organisation in terms of local economic regeneration. For example, as highlighted in The money trail, Eden Community Outdoors was able to use the LM3 to demonstrate its impact on the local economy, which helped the organisation to secure funding for a new post to take work on local economic impact forward. |
| Assessment Resource - Link | https://nefconsulting.com/wp-content/uploads/2017/05/TheMoneyTrail.pdf |