An important consideration in planning the leadership scorecard is to determine the appropriate levels for evaluation. Some evaluations will stop at Level 3, where a detailed report will determine the extent to which participants are using what they have learned Others will be evaluated at Level 4, impact, where the consequences of their on-the-job application are monitored. A Level 4 impact study will examine hard and soft data measures directly linked to the leadership development program. This type of study will require that the impact of the program be isolated from other influences. Finally, if the ROI calculation is needed, two additional steps are required;

Level 4 impact data must be converted to monetary value and the costs of the program captured so that the ROI can be developed.

During the planning stage, the feasibility for a Level 4 or 5 impact study should be examined. Relevant questions need to be addressed:

• Will it be practical and feasible to discuss costs?
• Can the impact data be converted to monetary value?
• Is the actual ROI needed or necessary?