Category: Budget
In the previous step we calculated that the annual impact from business acumen training was $312,275. Is $312,275 attractive to key decision makers? How much will it cost to produce this impact? What is the return for this investment? Should we invest our scarce resources on training, or would the funds be better spent somewhere else?
As you go about running the Training Evaluation function you will need an annual budget. Budget is not a bad word. A budget gives you the ability to make informed spending decisions without guessing. It’s a way to help you organize your expenses so that the work is done to satisfy the vision and mission of the function and using the established work processes. Note: the budget will need to provide funds for internal or external evaluation personal or a combination of both.
Here are the rules that I follow for setting the training evaluation budget: