Applying ROI as a Further Step in Kirkpatrick Model: The Process
If Phillip’s ROI model is used as the evaluation tool for a program, it will calculate monetary cost and non-financial returns at all levels of the program. On the other hand, if the ROI aspect of Phillip’s model is used as a further step to the Kirkpatrick’s model then evaluators will garner all the data from Kirkpatrick’s level four, and translate them in fiscal value or hard data (quantity, quality, cost, time). The ROI will then be calculated based on all the data gathered. Irrespective of the way in which ROI is applied, it involves a process which is used as a guiding principle to evaluate a training program. This process, according to Phillips, 1996 (as cited by Andru and Botchkarev, 2011), involves four steps:
Data Collection Plan
Different data collection instruments such as surveys, questionnaires, document analysis, or observation will be utilized to gather data about the evaluation …show more content…
If I had done a predictive ROI I would have gained valuable insight, and would not have embarked on a Dental Assisting education. The program cost twelve thousand dollars, which I am still paying back in student loan. In retrospect, if I had done a ROI it might have propelled me to seek out other schools that offer the course at a cheaper rate, or choose another field that paid more since the financial gain was not favorable for the first two-and-a-half years. The money I earned during those early years could pay only utility bills, and did not allow for retirement or regular saving. The Return on Investment during those early years was not financially satisfactory; I paid twelve thousand dollars for training, and was earning approximately sixteen thousand per year. However, there were some priceless non-monetary benefits (experiences/skills gained on the job) that afforded me a chance for a better paying
If Phillip’s ROI model is used as the evaluation tool for a program, it will calculate monetary cost and non-financial returns at all levels of the program. On the other hand, if the ROI aspect of Phillip’s model is used as a further step to the Kirkpatrick’s model then evaluators will garner all the data from Kirkpatrick’s level four, and translate them in fiscal value or hard data (quantity, quality, cost, time). The ROI will then be calculated based on all the data gathered. Irrespective of the way in which ROI is applied, it involves a process which is used as a guiding principle to evaluate a training program. This process, according to Phillips, 1996 (as cited by Andru and Botchkarev, 2011), involves four steps:
Data Collection Plan
Different data collection instruments such as surveys, questionnaires, document analysis, or observation will be utilized to gather data about the evaluation …show more content…
If I had done a predictive ROI I would have gained valuable insight, and would not have embarked on a Dental Assisting education. The program cost twelve thousand dollars, which I am still paying back in student loan. In retrospect, if I had done a ROI it might have propelled me to seek out other schools that offer the course at a cheaper rate, or choose another field that paid more since the financial gain was not favorable for the first two-and-a-half years. The money I earned during those early years could pay only utility bills, and did not allow for retirement or regular saving. The Return on Investment during those early years was not financially satisfactory; I paid twelve thousand dollars for training, and was earning approximately sixteen thousand per year. However, there were some priceless non-monetary benefits (experiences/skills gained on the job) that afforded me a chance for a better paying