Why Performance Measurement is Critical in Economic Development (And How EDA Can Help You Master It)

Have you ever trained for a competition? 

You didn’t just show up on the day and hope for the best. You tracked your progress - every sprint is timed; every rep is counted- because what gets measured gets managed. Without those metrics, how would you know if you're improving? Or ready for the big event? 

The same principle applies to economic development. Measuring our efforts is like tracking an athlete's performance: it helps us evaluate impact, stay on course to meet goals, and demonstrate results to stakeholders, funding agencies, and the public.

As an economic developer, you’re tasked with creating positive change in your community and its easy to get caught up in the details of launching a new project. But without a systematic way to assess, manage, and improve, you risk investing resources in strategies that fall short. 

How EDA Can Help:

Performance measurement is a game-changer for economic development and that’s why we’ve developed the Performance Measurement in Economic Development course at the EDA Institute.

Here’s what you’ll learn:

• Community Economic Development (CED): Understand how performance measurement fits into the bigger picture.
• Performance Management vs. Performance Measurement: Learn the difference
• The SOME Framework: A practical tool for effective measurement in your community.
• SMARTER Goals: Set objectives that are Specific, Measurable, Achievable, Relevant, Time-bound, Evaluated, and Reviewed.
• Using the Logic Model: Apply this tool to track progress and measure outcomes.
• Selecting Performance Metrics: Choose metrics that reflect your community’s needs and goals.

We’ll also show you effective methods to share your success with stakeholders.

In economic development, the stakes can be high. Communities, businesses, and individuals rely on your work. Without clear metrics, it’s like playing a game without a playbook—you might score eventually, but it’ll be far less strategic and you may not win in the end.

So, are you ready to take control of your initiatives and prove their value? The Performance Measurement in Economic Development course at the EDA Institute will give you everything you need to succeed. 

Enroll today