The impact profile approach to policy merit - The case of research grants and the university

In writings on the theory of valuing, many take the position that impacts o n the relevant outcome dimensions should be aggregated to arrive at one sum mary assessment of program merit. A contrary position is taken hen, specify ing that the impacts should be kept separate and unweighted and expressed o nly in their own original measurement scales. Ail impacts, however should b e portrayed, including those for which no rigorous data analysis has been c arried our, It is argued that aggregating, even by the individual stakehold er, is both futile and misleading. An extensive evaluation of the effects o f research grants on the university is included at full-scale illustration of the method. Financial impacts are considered, as well as impacts on facu lty and student quality, on university prestige, and on the quality of inst ruction.