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PCCA Journal|2

nd

Quarter 2010

31

important, the need (risk) is high, and the skill level is

low, you need to provide the necessary developmental

opportunities. Money is tight, so do not waste it on

the wrong type of development. Look back at your

list of quadrant 1 tasks, and target the one or two that

will give you the biggest return on investment (ROI).

Relevant content, engaging facilitators, and interactive

presentation help the participants learn and retain the

information, increasing your ROI. Following are three

approaches for calculating training ROI.

Cost/Benefit Ratio Approach

Calculate direct costs: materials, conference fees,

1.

trainer compensation, consultant fees, and trainee

wages, travel, meals, and hotels. Divide this num-

ber by the number of trainees in the program.

Calculate indirect costs: loss of productivity while

2.

employees are in training and not on the job.

Calculate total training program cost.

3.

Estimate expected productivity benefit resulting

4.

from training (be conservative).

Calculate the first-year profit improvement with the

5.

productivity increase.

Estimate length of time of training effect using a

6.

discount rate formula to reduce the value of future

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MADE IN

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Continued on page 32

C-Level

Vice President

Director

Project Executive

Senior Project

Manager

Project Manager

Superintendent

Foreman

Next Generation

Field Engineer

5.0

7.5

2.5

Years of Experience

Source: Andrew B. Patron, FMI Senior Consultant

10.0

15.0 17.5

12.5

20.0

Time Spent

In-Office

Training by Level and Experience

Leadership Institute

Project Manager Academy II

Construction Profitability

Project Manager Academy

Construction Supervisors Academy

Emerging Manager Institute

Time Spent

In Field

Level in

Organization

Exhibit4