How Much Is That Training Program Worth? Quantifying the Value of Training and Other 'Fuzzy' Education Events

Ingo Bensch, Scott Pigg, and Marge Anderson, Energy Center of Wisconsin

Keywords

Abstract

The bottom line . . . it drives business decisions on everything from the peanuts offered on short flights to the design of new buildings. Energy-related decisions are often also evaluated based on costs and benefits, which is why the energy efficiency industry has learned to speak the language of payback and non-energy benefits. Those energy measures (or anything else) whose value can be quantified stand a better chance of being funded and implemented.

This reality is driving the training and meetings industry toward measuring the value of their offerings and stating them in business terms. This industry is beginning to adopt return on investment (ROI) calculations as a standard by which businesses can measure such formerly fuzzy necessities as training, conferences, and meetings. Several industry providers are applying a rigorous, empirically-based methodology to such events in an effort to quantify their value. This paper describes a self-funded, internal assessment of return on investment for a Midwestern energy efficiency conference. Through a combination of interviews, follow-up surveys, program tracking, and content analysis, we attempted to monetize the value of the conference to show whether the sponsorship investment was “worth it” in terms of quantifiable
energy impacts.

In this paper, we explain our approach, share our results, highlight lessons learned, and argue that our modest effort suggests that education and training impact studies warrant greater attention by the energy efficiency industry.