Evaluating online learning
COST-EFFECTIVENESS is such a dry term that few training managers would voluntarily place it at the centre of their priorities. Unfortunately the 'cost' word dominates, so that, for many people, cost-effectiveness is synonymous with cost saving. But taking the phrase as it was originally intended, cost-effectiveness is a central concern to any service department - providing effective solutions to identified needs at a cost that provides good value for money.
'Cost' and 'effectiveness' do not in themselves paint the whole picture. There is a third important dimension - volume. It would be relatively easy to reduce costs or improve effectiveness if you did less training - but that would not be meeting the identified needs of the organisation. Cost, effectiveness and volume all need to be balanced if you are to deliver a complete service.
A training manager looking to increase cost-effectiveness actually has three options:
Each of these allows you to have your cake and eat it - improving one of the measures without sacrificing the others.
Cut can it be done? Well, here's some suggestions for actions you could take that might just achieve the impossible.
© Fastrak Consulting Ltd, 1999. All rights reserved. Last revised 27/8/99