This study shows that emergency preparedness facilitates a more relevant, timely, effective, and efficient humanitarian response, which in turn improves how affected communities’ needs are met during emergencies. Creating an evidence base for these potential benefits is vital to making the case for investment in humanitarian preparedness. This study, like others carried out before it, helps qualify and quantify the benefits of preparedness. The ROI Methodology used in this study is a tool for humanitarian practitioners to make the case for their investments in a way that helps decision-makers understand the trade-offs involved. This framework relies on careful analyses and compares how a humanitarian response in different risk scenarios would occur with and without the investment having been made. This methodology enables the development of business cases. Indicators derived from this comparison are defined as ROI indicators. Using this methodology, a joint Learn More and PwC team appraised 11 capacity development investments collectively valued at £3,874,424 in Ethiopia and the Philippines, funded through the DEPP program.