Cost benefit analysis of training

1:- DETERMINE TRAINING COST 2:-IDENTIFY POTENTIAL SAVING RESULT 3:-COMPUTE POTENTIAL SAVING 4:-CONDUCT COST AND SAVING BENEFITSCAMPARISONS

determine training cost

Consider direct cost such as

design,trainer fees,materials,facilites, and other adm activities

Identify potential saving result

Consider employee retention,

better customer service, fewer work errors,quicker equipment production,& other productivity factors.

Compute potential saving

Gather data on the

performance results and assign dollar cost to each of them.

Conduct cost &saving benefits comparisons

Evaluate the cost per

participant,the saving per participant,&how the cost &benefits relates to business performance numbers.

Cost of training and development

T&d costs are divided into

one time costs involved in creating facilities for t&d & on-going costs involved in implementing t&d programmes

Costs under t&d

1: production of material such as

videotapes,audiotapes,slides photographs etc. 2:travel cost 3:staff prepartion cost. 4:meals,housing,car rent. 5:delivery of course materials,including reproduction costs per package.