Building a value framework to assess the success of cultural projects
Learn how the Barbican's marketing director, working together with the artistic director and financial director, created a Value Framework model for the venue. Designed to assess artistic projects across a variety of measures, some financial, some relating to audience development, some relating to environmental issues, this model enabled the Barbican to attach a real value to artistic projects over and above a simple per-seat subsidy model. The document considers how we can strategically measure the value of an arts project, and reviews how successful the Barbican's model has been.
Value means different things for different people. Very different experiences depending on why you wanted something, what personal value you attached to the need to get it, the price you would have paid for it and the way you felt when you had it.
So there is no one standard definition of what ‘value for money’ means, but many, many interpretations.
Sometimes things happen that mean you have to rethink how you tell your story and how you get your stakeholders to value what you do, as much as you do. This is the Barbican’s story.