Tools
The Outcome Funding framework or system is well-articulated and provides a set of concepts and operational tools.
1. Outcome Statement and Givens
This is a broad statement of vision, the ideal future, that an investor (a community, county, government or organisation) seeks. It is the end point, described preferably in positive terms, that a successful initiative would bring. In the investment setting, it also describes the context and the constraints within which a provider is bound to work. This statement is in the domain of the purchaser.
Tool: The Investors Outcome Workbook
For organisations prepared to invest with grants or budget allocations, this workbook focuses on defining outcomes and portfolio balance. It fully prepares the investor to issue a "call for providers or implementers".
2. Performance Target
This is the specific result that an implementer will commit to achieve. It is tangible in the sense that it can be verified and narrow enough to be directly achieved by the implementer.
It almost always represents a change in behaviour or conditions for the customer/client/patient.
Tool: Target Setting Workbook
3. Project Selection
The process of confirming statements made by providers seeking investment and a tool for selecting among those implementers.
Tool: Project Selection Workbook
For organisations reviewing Performance Target Outlines in the Outcome Funding Framework, this publication provides "forms and formats" for assessing submissions in an effective and defensible way. It includes suggested questions to be asked by purchasers in telephone and personal interviews.
4. Milestones
Milestones are critical points that customers must reach to ensure that a project is on course to achieving its performance target.
Tool: Milestone Management & Tracking Workbook
For providers, this workbook shows how to define milestones that demonstrate that a project is on course and how to track them from both project and investor perspectives.
Tool: Milestone Management Guidebook
This document helps providers to manage a project using customer milestones - and what to do if a milestone is missed.
5. Other Associated Tools
Tool: The Financial Projections Workbook
For project designers, this workbook shows how to move away from line item budgets to understand how much money it takes to achieve milestones and to enable better cash flow during implementation.
Tool: The Finalist's Workbook
For organisations selected as finalists for investments, this workbook helps prepare their response to the project selection process the project selection of investors.
Tool: Contract Management Guidebook
For busy Contract Managers who are responsible for monitoring projects using an Outcome Funding framework, this workbook helps to keep investments on track.
Tool: Simple Software Solutions
TargetTrak to ensure customers get to results and
InvesTrak to ensure investments are targeted and get results.
