Cost-Benefit and Cost-Effective Evaluation Methods Useful for Evaluating Effective Training Essay

For over a hundred years the concept of both cost-benefit evaluation and cost-effective evaluation methods has been used for numerous fields and industries to see the positive and negative sides of undertaking a project. These methods has been used to analyze public health; transportation; and etc. Each and every company would rather see more of profits than losses. Employers see that their employees and the trainings are investments to their business. Hence, employers need to have assurances that the trainings that they give out to their employees would be both beneficial to the employers in terms of profit and as well as return of investment (ROI). In order to gain much profit, the employers need to have their employees be up to par with industry standards with avant-garde skills through effective training. Employers do take note that in order to have highly qualified employees they need to give effective and quality training. Using the above mentioned evaluation methods would let the employers know: how much it would cost them to train their employees; the duration of the training – would determine the effectiveness and implementation of the skills. Then again these methodologies are not full-proof as there are numerous factors to be taken note of, to guarantee one hundred percent success rate of these trainings such as: the capabilities of their employees, the willingness of their employees to learn these trainings; and finally applying them during operation. The use of these evaluation methods can be a rough guide to corporations and institutions, to name a few, to see the quality and assess projected costs of trainings and steps to be taken. With such projections yielded by these methods one may be on track with their project management and asset management.