Lessons Learned and Social Return on Investment Analysis of the Post-COVID Grassroots Economic and Social Driving Project with BCG Economy in Rayong Province

Abstract

This research aims to (1) Collect all project-related documentation for a post-project impact study and (2) evaluate the Social Return on Investment (SROI) of the project. This is mixed-methods research utilizing both quantitative and qualitative approaches. The quantitative sample consists of 250 people, comprising local residents and recent graduates who were members of the project implementation team in Rayong Province, covering 25 subdistricts. They were selected using a purposive sampling method. The research instrument used was a questionnaire on the outcomes and impacts occurring after project completion. The target group for the qualitative research consists of 25 key stakeholders, one community leader from each of the 25 subdistricts. Data was collected using the Social Return on Investment (SROI) assessment tool through in-depth interviews. The collected data was then analyzed to calculate the Social Return on Investment ratio. The scope of the study retrospectively covers the period from the "University to Tambon" (U2T) project in 2021 (B.E. 2564), continuously through the "Post-COVID Grassroots Economic and Social Driving Project with BCG Economy" (U2T for BCG) in 2023 (B.E. 2566), and extending to the subsequent research project funded in 2024 (B.E. 2567), which built upon the aforementioned project in Rayong Province. Key Findings: Impacts occurring one year after project completion were assessed across four dimensions: Economic Impact, Environmental Impact, Social Impact, and Well-being Impact. The overall average score was highly positive, at the highest level (= 4.60, SD =0.56). The overall Social Return on Investment (SROI) was an impressive ratio of 1: 5.19. This indicates that every 1 Thai Baht invested generated 5.19 Thai Baht in social value. All sub-activities of the project, including the follow-up research, were found to generate increased social value.