SROI: Definitions SROI is a framework for measuring and accounting for a much broader concept of value; it seeks to reduce inequality and environmental degradation and improve wellbeing by incorporating social, environmental and economic costs and benefits. SROI measures change in ways that are relevant to people or organisations that experience or contribute to it. It tells the story of how change is being created by measuring social, environmental and economic outcomes and uses monetary values to represent them. SROI is about value rather than money and is a widely accepted way of conveying value. It is much more than a number and is a story about change, on which to base decisions, that includes case studies and qualitative, quantitative and financial information. There are two types of SROI: Evaluative: which is conducted retrospectively and based on actual outcomes that have already taken place. Forecast: which predicts how much social value will be created if the activities meet their intended outcomes. Forecast SROIs are especially useful in the planning stages of an activity and can be used within Benefits Realisation planning, measurement and management as well as becoming a key component of a successful business case.