Applying Roi As A Tool For A Program Essay
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 elements (evaluation design, evaluation instruments, evaluation levels and evaluation purpose).
Separating the Effects of Training
Once the data is collected, it is necessary to determine what effect the training has on the data items. Some strategies that can be used to bring about this isolation might be trend analysis, trainees’ appraisal of training impact, or experts, supervisors, and management appraisal of training impact.
Converting Data to Fiscal Value
A monetary value is placed on the data that is…