Recipient Organization
UTAH STATE UNIVERSITY
(N/A)
LOGAN,UT 84322
Performing Department
Applied Economics
Non Technical Summary
The Intermountain Farm Business Management Benchmarking Consortium is a proposed partnership between Utah State University, Utah State University Extension, Snow College, and Uintah Basin Technology College. This project aims to improve financial decision-making and increase the overall sustainability and profitability of farms and ranches in the project area. Expanding the number of farms and ranches participating in this program is crucial but is only a result. The key to this project is the increase in financial knowledge during the financial benchmarking process.
Animal Health Component
50%
Research Effort Categories
Basic
50%
Applied
50%
Developmental
(N/A)
Goals / Objectives
The goals of the Intermountain Farm Business Management Benchmarking Consortium are to: 1. Expand the quality, quantity, and diversity of data in the FBMB National Database National through new farm management collaborations in underserved areas of Utah. Over the three-year life of this project, 185 farms will receive financial management training, apply financial benchmarking to their operation, work one on one with farm management instructors, and submit data to the FBMB National Database. This includes Project Narrative 4 an increased number of small livestock operations, including sheep producers, Native American producers, and the addition of small fruit growers, including cherry, apple, and peach growers in Utah. Utah State University Extension will play the key role in reaching these underserved producers. 2. Use resulting project data to develop relevant livestock benchmarks, Extension publications, research publications, and other farm decision-making tools to improve profitability and sustainability, particularly for livestock operations, underserved operations, and small-and-medium-sized and beginning farms in the project area. 3. Increase small and medium-sized producers' understanding of financial management and provide them with tools and resources to help them manage risk and increase profitability.
Project Methods
The Intermountain Farm Business Management Benchmarking Consortium program seeks to promote the economic viability of farmers and ranchers in Utah. Overall, the program intends on serving at least 185 farms and ranches in all counties throughout Utah. Three primary behavioral outcomes are expected from program implementation; (a) at least 90% of participants will demonstrate improved knowledge, attitudes, skills, and aspirations related to financial management, financial benchmarking practices, and risk management strategies, (b) at least 75% of participants will implement a financial benchmarking practices, analyze their operation plan, develop a plan to increase profitability, and adopt a risk management plan, after completing the program, and (c) at least 60% of participants will report increased farm profitability, finalization of an operational plan, and improved financial knowledge from utilizing financial benchmarking mental health eight months after completing the program. All metrics will be operationalized for direct assessment based on participants' responses to survey items. Therefore, the evaluation will capture data on identified short, medium, and longterm metrics (see Logic Model). With respect to short-term outcomes, cross-sectional data will be gathered using an exit survey on four (4) measurable indicators, these are (a) perceived knowledge gain (K), (b) attitudes (A), (c) skills (S), and (d) aspirations/intentions (I). For medium-term outcomes, a follow-up survey will be used to gather evaluation data on one major quantitative metric; actual adoption of recommended practices related to holistic production, risk Project Narrative 18 management, succession planning, and mental wellbeing. The evaluation will also gather impact data on four (4) metrics related to economic viability eight months after the program, these are, (a) profitability, (b) active succession plan, (c) risk, and (d) mental health. Short-term outcome data will be analyzed using descriptive statistics (K, A, S, I), and regression analysis (I = f (K, A, S), and medium and long-term outcomes will be analyzed using descriptive statistics. Following the TOP model, the evaluation will track seven levels of The Intermountain Farm Business Management Benchmarking Consortium evaluation process, these are, social, economic, and environmental conditions, practices, knowledge, attitudes, skills, and aspirations, reactions, participation, activities, and resources. The evaluation will be divided into three distinct phases, two of which will occur simultaneously during the program. Phase I, Process Evaluation, will assess program quality, and Phase II, Formative Evaluation, will assess (short and medium term) program outcomes (a) and (b). Phase III, Summative Evaluation, will assess program outcome (c i.e. impact) annually. In Phase I, the Process Evaluation will collect program fidelity data on resources used, participants and program coverage, and activities implemented, and participants' reactions to program activities. A combination of internal documents and exit survey data will be analyzed in Phase I. In Phase II, the Formative Evaluation will gather data on short-and-medium term outcomes using a closed-ended exit survey for K, A, S, and I, and a four-month follow-up structured survey to measure adoption. In Phase III, the Summative Evaluation will gather data on the four metrics related to economic viability using an eight-month follow-up survey.