Revise the standard indicators based on appropriate results chains or theory of change of business lines, strategies, and project objectives.
IFC Advisory Services 5. Need to revisit standard indicators. - ï Among PCRs completed in 2010, 90 percent fell short of using relevant standard indicators. Standard indicators in Advisory Services are not always adequate to track project results as per project objectives. In some cases, poor core indicators linked to poorly articulated objectives have led to weak impact measurement. Moreover, the increasing reliance on standard indicators that are only weakly related to project objectives could transform the self-evaluation process into a monitoring exercise focused on checking achievement of standard indicators rather than analyzing achievement of objectives and understanding the factors behind success or failure.
Agree: Many revisions and improvements to indicators have occurred since the cohort of projects examined by IEG in this BROE:
· All AS Business Lines (BL) revised their M&E frameworks, including standard indicators, in FY10 and FY11.
· Revised approach in FY10 to ensure teams were setting realistic project objectives.
· Quality at Entry review was started across all projects from FY10 to ensure linkages with objectives and indicators.
Recent years' data shows improved use of standard indicators.
A Working Group of Global BL Directors was established in 2012 to oversee a review of standard indicators. As part of this process, emphasis is being placed on aligning AS and IS metrics wherever possible. This will take into account the results of the indicator harmonization exercise with other DFIs.
Action 5: Develop an integrated A2F and FM M&E framework by leveraging and harmonizing existing key indicators and product frameworks.
Indicator: The rollout of an integrated A2F and FM M&E framework.
Baseline: Existing A2F framework and FM key indicators.
Target: An integrated A2F and FM M&E framework in place.
Timeline: End of FY14.
No management update provided. No opinion possible.
No management comments received. Last management update was "Substantial." There is no new information to update the implementation status. The last IEG comments were: "IEG welcomes the changes completed by December 2013. It is too early to assess the extent to which these indicator changes have had an impact on the quality of M&E for A2F projects. IEG has completed its FY13 PCR program and validations for FY14 are well underway, and these changes do not appear to have surfaced yet in the ongoing PCR validation program. IEG rates "Medium""
IEG welcomes the changes completed by December 2013. It is too early to assess the extent to which these indicator changes have had an impact on the quality of M&E for A2F projects. IEG has completed its FY13 PCR program and validations for FY14 are well underway, and these changes do not appear to have surfaced yet in the ongoing PCR validation program. IEG rates "Medium"
An integrated A2F and FM M&E framework has been rolled out. The standard indicators were introduced in the ASOP and the mapping excise for active A2F portfolio was completed in December 2013. Several other products have also developed new frameworks: Corporate Governance developed a new framework and is under implementation (end of FY14) and a set of standard indicators for AS non-client facing projects (Product Development Projects) was developed and rolled out in FY14.