Article about library's monetary value
nnlm at u.washington.edu
Wed Aug 20 16:47:38 PDT 2003
How much is your library worth? Why should your institution fund it?
There is a very interesting article in the online journal "TR Update"
about the monetary value of a library to its institution. The author
presents calculations showing total annual cost savings to the instution
from services such as reference and document delivery, then shows a way to
estimate the total annual added value of the library's services, and from
there (using his library's annual budget) demonstrates that his library
has a benefit to cost ratio of 12:1 and a very substantial annual return
The article is about a transportation library, but a health sciences
library could find the same techniques valuable for providing information
to management about a library's monetary value to an institution.
Article is at http://www.transportconnect.net/trupdate/article2.html (Its
title is "MN/DOT Library Accomplishments" but don't let that discourage
you! Look for the cost estimates highlighted in blue.)
National Network of Libraries of Medicine, Pacific Northwest Region
University of Washington nnlm at u.washington.edu
NN/LM PNR 800-338-7657
Box 357155 206/543-8262
Seattle, Washington 98195-7155 206/543-2469 (FAX)
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