Early Market Engagement - Socio Economic Benefit (SEB) tools

Tender description

The Met Office is doing some early market engagement for the following and would welcome any early information of what is available in the market. This may not become a commercial offering as yet but ideas of what is possible and related associated costs would be welcome. Please send any relevant information back to mel.staton@metoffice.gov.uk. It won't be possible to contact everyone however the information will be reviewed in due course. Thanks for the time you have taken to consider this engagement requirement.   <strong>Met Office Challenge: </strong> • MO are increasingly required to report into Government on the value we deliver to the UK in ‘socio-economic benefit’ (SEB) terms. The BEIS Met Office General Review Economic Summary (LSE, 2015) attempted to quantify our value, basing its analysis on various referenced studies and techniques. • SEB has a broad, indirect and dynamic scope and although there are precedents, there is currently (to our knowledge) no recommended or standard Government-endorsed framework or methodology for estimating or tracking SEB (although we are aware of a framework to estimate Social Value, which is now a Government. tender requirement). • Another strategic development influencing Government and consequently industry is the quantifying of ‘natural capital’ as an asset. This is not explicitly part of SEB as currently understood, but it could be in future. This would be relevant to the MO and its customers. • MO is not the only Government. service/investment assessed formally or informally by SEB. Consequently, a broader SEB measurement framework might have wider use (as per Social Value), this would therefore impact industry, at least industry bidding for Govt. contracts. Ambition: • To have access to an government-endorsed framework and methodology service which enables efficient estimating and tracking of SEB. • This would be useful not just for a top-down approach to calculating total Met Office SEB for Government, but a bottom-up approach to measure the relative SEB value (and consequently ROI) of different Met Office services to inform priorities and investment decisions. • It is acknowledged measuring SEB accurately is not realistic. However, based on assumptions and some simplifications, it is nonetheless valuable for comparative and relative comparisons, both at the macro (ie. whole organisation) and micro (ie. individual service) levels. • It may also be useful for us to assist customers in quantifying the value of our service(s) to them, so this is another potential use. Keywords: Socio-economic benefit tools