In a global world, increasingly mediated by new technologies, but where place, communities and territories assume even more importance, the valuing of culture and creativity faces new conceptual and operational challenges. This paper addresses these challenges in order to question the measurement tools usually applied in valuing the impact of culture in society, proposing a new conceptual grid to assess the impacts of creative and cultural activities, in all their diversity and multidimensionality. This results from an intense co-construction process, over the few past years, involving a variety of cultural agents, both in Portuguese and European contexts, in the scope of several research projects.This analytical framework is proposed to help disentangling the increasing complexity and diversity of the mechanisms underlying creation of value in cultural activities and to facilitate the self-assessment of its impacts, in all their diversity, in a particular territory or community. A specific grid is presented, comprising 5 main dimensions (cultural, economic, social, environmental; citizenship and participation), for assessing the territorial impacts of cultural activities. These are subdivided in 15 sub-dimensions, and operationalized in 75 different indicators. This analytical framework is being transposed to a digital application that allows the systematization, self-assessment and self-awareness of value creation and their impacts by the agents of the cultural/creative sector.