Stage 5: Learn
To be effective in its facilitative role, a M4P programme must learn from its experience and adapt accordingly. The effects of intervention must be continually assessed and re-assessed to ensure they remain compatible with the programme’s goal and objectives. The rigorous capture and interpretation of lessons from intervention underpins the ability of a M4P programme to learn and remain relevant.
In particular, a M4P programme must be able to measure and attribute, in a plausible manner, the changes brought about by its actions. This calls for the application of international good practice in monitoring and evaluation, and the selection and measurement of realistic and meaningful indicators of change and impact, based on a well-defined strategic framework. Importantly, M4P programmes must integrate these learning processes into their decision-making in order to refine the activities and interventions of the team.
Effective monitoring and evaluation (M&E) is essential in a M4P programme, both for reporting purposes but importantly to inform the learning processes that underpins the facilitative approach A robust M4P M&E system builds on a sound intervention logic, the identification of meaningful indicators to measure market systems change, and the establishment of appropriate baselines, targets and data collection and processing systems that will inform decision-making. The basis for effective monitoring and learning will build on four key steps:
Step 1: Identifying appropriate indicators
The impact logic developed for a M4P programme forms a critical foundation for monitoring and evaluating its progress and performance. Specific, measurable and appropriate indicators are identified that measure both intermediate and final changes described by the impact logic. Critically, these indicators must be meaningful measures of market systems change as well as help identify what proportion of change can be attributed to programme intervention.
Step 2: Establishing a baseline and targets
A robust baseline and clearly articulated targets for each indicator is essential. Baseline data can be established during market assessment and initial intervention activities. Targets, whilst they may necessarily be ‘estimates’, should be set to provide realistic goals for the programme to aspire to and for performance to be measured against.
Step 3: Developing an M&E system and plan
Since the intervention, and indicators of that intervention, varies between programmes, so too will the M&E system. M4P programmes invariably draw on both qualitative and quantitative information, and M&E tools and techniques will need to reflect this. Measuring and attributing systemic change is challenging, and the time and resources required to monitor a M4P programme effectively will be substantial.
Step 4: Analysing and learning from M&E information
M4P programmes are inherently iterative in the way they design and develop intervention strategies and activities. A continual need to review and reflect on progress and experience means M&E must be integral to programme planning and decision-making. This is most effectively achieved and reinforced by ensuring that all programme staff are actively engaged in the M&E process.
A more detailed guide to monitoring, learning and adapting M4P programmes can be found in section 3E (pp.59-70) of The Operational Guide for the Making Markets Work for the Poor (M4P) Approach.