Impact Assessment
Our firm undertakes Impact Assessment studies in which it does an in depth analysis and evaluation of the impact the interventions have had in the community in terms of their social, economic, and environmental impacts. It involves analysing the effects of the interventions on various stakeholders, including employees, customers, communities, and the environment.
The Ministry of Corporate Affairs’ recent revisions to the corporate social responsibility guidelines, which makes CSR Impact Assessment mandatory, have significantly influenced the CSR landscape in India. With the new Corporate Social Responsibility Impact Assessment compliance now applicable, monitoring and evaluation have become a focus bringing credibility and accountability in the development sector. Impact Assessment assists corporates in assessing how their CSR projects are impacting communities and in tracking the on-the-ground impact of their CSR efforts. The increased regulatory compliance has affected all aspects of the CSR lifecycles and will guarantee that CSR strategy activities are planned, implemented, and assessed with greater rigor, resulting in the desired social outcomes.
Impact Assessment measurement comprises of quantitative and qualitative approach with the Beneficiaries, Implementing Partners, Project Stakeholders & Local Govt. Representatives among others. Impact assessments help funders, grant-makers and companies to understand and evaluate the impact of their social investments in programmes and projects on their target beneficiaries or society. The findings of an assessment also help funders and companies to make evidence-based decisions in implementation and identify hurdles, allowing for programme continuity, scale, sustainability, efficiency, etc.
Impact assessment has been primarily focused upon for several reasons. Now that we have established this, here is what impact assessment assures for your business:
- Makes the CSR projects transparent and easily manageable.
- Instills trust in stakeholders and makes them accountable.
- Drives emphasis on minimizing negative outcomes.
- Results in either reduction or best utilization of costs.
