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ROI Return on Investment - Value

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Higer Ed Assessment Initiatives

Statistics. MINES for Libraries. Value of Academic Libraries Report » ACRL Value of Academic Libraries. ACRL Value of Academic Libraries. Measuring the value of the library | Power to the Librarian. Understanding library impacts on student learning. In the Library with the Lead Pipe is pleased to welcome guest author Derek Rodriguez. Derek serves as a Program Officer with the Triangle Research Libraries Network where he supports collaborative technology initiatives within the consortium and is project manager for the TRLN Endeca Project. He is a Doctoral candidate at the School of Information and Library Science at The University of North Carolina at Chapel Hill, and is the Principal Investigator of the Understanding Library Impacts project. Value for money in higher education These are challenging times for colleges and universities.

Graduation rates are important measures. As colleges and universities grapple with this challenge, academic libraries are also seeking ways to communicate their contributions to student learning. “Libraries define, develop, and measure outcomes that contribute to institutional effectiveness and apply findings for purposes of continuous improvement.”[7] And an accompanying performance indicator reads: Are You Worth It? What Return on Investment Can and Can’t Tell You About Your Library.

Courtesy of Flickr member cambodia4kidsorg “The indicators that served as benchmarks in the past, such as number of volumes and number of journal subscriptions, are no longer sufficient because of the more expansive role that the contemporary library has assumed” (Weiner, 2005). “The measurement of quality will come back to the questions of who are the users, what are the inputs, what are the outputs, do we produce the outputs in a way that meets the needs of the users, and what do those outputs contribute to the productivity and accomplishments of those users?”

(Pritchard, 1996). It’s almost a sure bet that your friends, family and colleagues are looking at ways to save money and, in general, are tightening the purse strings a little more these days. The post on January 14, 2009 in this blog reviewed the state of libraries during recessions and pointed out the growing news pieces that remark at the huge surge in library usage.

In libraries, ROI is measured in many different ways. New Study Measures Academic Library ROI & Grants; More Research Coming.