The first step in the Lib-Value project was to develop a fact-based articulation of all areas of value and ROI in academic libraries. Rachel Fleming-May and Crystal Sherline of the University of Tennessee are in the final stages of compiling a comprehensive bibliography on value and ROI in libraries of all types. This extensive review of the literature informs the Lib-Value team, and serves as a base for the end-product that Lib-Value will deliver: a customizable set of models for determining value and ROI in academic libraries. Amap of areas included in the Lib-Value study is based on three major functional areas reflected in academic libraries: research, teaching/learning, and other social and RLI 271 37 Lib-Value: Measuring Value and Return on Investment of Academic Libraries ( C O N T I N U E D ) AUGUST 2010 RESEARCH LIBRARY ISSUES: A BIMONTHLY REPORT FROM ARL, CNI, AND SPARC Stakeholders Collections Services Facilities/ Physical Space Teaching/Learning Research Social/ Professional E-collections Special Collections/ Archives Digitization Institutional Repositories Interlibrary Loan Instruction Reference Cataloging/ Metadata Information/ Learning Commons Study Areas Figure 1. Map of Functional Areas