When making a business decision, two basic elements are typically considered: costs and benefits. In the case of training, the is- sues are: (1) how much does the training reduce costs? and (2) how much does the training increase revenues? If the training sufficiently reduces costs and/or increases revenues, then there is a strong busi- ness case to conduct the training. Your ability to identify the poten- tial sources of revenue and costs and to estimate their levels can be an important business skill. It can be the basis by which you can successfully make the case for needed training for your employees.
Given your answers to the previous questions, estimate the combined impact on the bottom line of direct and indirect savings generated by training. Extrapolate this number over a one- or two-year time period.