Defining Success
Once each implementation phase begins, it’s important to set up a monitoring system that tracks activities, progress towards established goals/objectives, and lessons learned throughout each process in order to function more effectively and efficiently.
This data can be collected in two formats: activity-based indicators and performance-based indicators.
Activity-Based Indicators
These indicators will derive from progress made towards established goals and objectives. Examples of activity-based indicators West Jefferson could include are:
Comprehensive Housing Strategy
Depending upon the priority and actions taken to achieve each priority, an example for this concept would look like this.
If the goal is to increase access to homeownership, and West Jefferson chose to offer Homeowner Education and Counseling courses, the Town could track the following activity-based indicators:
- Number of individuals that enroll in/attend the course(s)
- Number of individuals that complete the course(s)
- Number of counseling sessions offered to potential homebuyers
If the goal is to increase rental housing affordability, and West Jefferson chose to acquire and operate moderate-cost rental units, the Town could track the following activity-based indicators:
- Number of properties acquired
- Number of units that are considered affordable
- Number of affordable units that are rented
- Dollars saved by tenants when compared to average rent costs
3D Printing Bootcamp
- Number of enrolled participants
- Number of participants who completed the program
- Number of graduates who obtained employment less than 6 months after the completion of the program
- Number of public meetings held
- Number of printed promotional materials distributed
- Number of social media/online posts promoted
- Number of partnerships created/utilized
- Number of grant applications submitted
- Number of grant applications awarded
Funding Strategy for the Mt. Jefferson Child Development Center
- Number of individual donations
- Number of marketing materials distributed
- Number of grant applications submitted
- Number of grant applications awarded
Impact-Based Indicators
Economic and community development projects require significant time and investment in terms of labor, planning, funding, and more. It’s important to remember that measuring impact can be achieved in a variety of ways, but also takes time to see impact come to fruition. Impact can be measured by economic and geographic trends in terms of West Jefferson’s overall population. However, it is common to not see the following indicators significantly change for many years. That doesn’t insinuate positive change isn’t occurring in the community, it simply means that change takes time. Examples of impact-based indicators West Jefferson could include are:
Comprehensive Housing Strategy
If we continue with the goal to increase access to homeownership by offering Homeowner Education and Counseling courses, the Town could track the following performance-based indicators:
- Net change in homeownership rates
- Net change in West Jefferson property tax receipts
- Net change in population
3D Printing Bootcamp
- Total job growth
- Average annual wages
- Individual and household per capita incomes
- Adult educational attainment
- In/out-migration of prime working-age population groups
Tracking each project’s performance can help demonstrate the true impact on the community. By having a solid foundation of measurements, this information can be used to demonstrate the progress being made, leverage for future funding opportunities, and help engage the community further on this initiative.