Category: Worth
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?
Predicting via the Impact Matrix: The Impact Matrix is a rectangular array of Intention goals & beliefs, Adoptive behavior examples, business results, and external contribution factors that, when combined using certain rules, predict the Impact from training.
It’s usually created by a Steering Committee of subject matter experts and key decision makers, drawing a direct link from training to business impact.
As soon as you have adequate information to describe the course, establish a Steering Committee of eight to twelve people to develop the predictions. Ideally, this group is made up of individuals from the learning function along with subject matter experts from business units and functional units; it may also include external consultants. Ideally, they are people who represent their function or business unit and have the expertise to provide valuable insight during the prediction process.
When evaluating something – a training program, a new product, or a new service; it is helpful to evaluate the object’s merit and its worth. Merit answers the question: does the object do what it is supposed to do? Worth answers the question: does the object add value beyond itself?
Predictive Evaluations supply data as to the merit and worth of training programs.