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 on the relevant outcome dimensions should be aggregated to arrive at one summary assessment of program merit. A contrary position is taken hen, specifying that the impacts should be kept separate and unweighted and expressed only in their own original measurement scales. Ail impacts, however should be portrayed, including those for which no rigorous data analysis has been carried our, It is argued that aggregating, even by the individual stakeholder, is both futile and misleading. An extensive evaluation of the effects of research grants on the university is included at full-scale illustration of the method. Financial impacts are considered, as well as impacts on faculty and student quality, on university prestige, and on the quality of instruction.