Cost-benefit Analysis At Nonprofits

Angela D. Barnes, MBA, CFRE, the interim vice chancellor at Indiana University East, discusses cost-benefit analysis, highlighting the need for nonprofits to modernize their blueprints and adapt to the changing landscape by leveraging data and tech. This insightful episode offers a fresh perspective on time management and cost-benefit analysis within NPO’s, encouraging transparency and data-driven decision-making. Angela emphasizes the importance of analyzing how individuals and teams spend their time. She suggests starting by listing tasks, categorizing them, and recording the hours spent on each. This exercise helps identify where time is being invested and whether it aligns with the organization's goals. The lively conversation jumps into how data can reshape decision-making within nonprofits. Angela shares a powerful example of an employee who discovered they were dedicating an excessive amount of time to an event that contributed insignificantly to their fundraising goals. Armed with data, this employee was able to advocate for change within the organization. Angela provides practical advice on creating a task assessment spreadsheet, including columns for tasks, categories, hours spent, and recommended hours, which can help individuals and teams evaluate their work and pinpoint areas for improvement. The episode touches on the benefits of automation, simplification, and integration in streamlining tasks and achieving greater efficiency. Angela suggests that organizations should consider conducting these assessments regularly and even provide data insights to new team members to help them navigate their roles effectively.
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