Estimating your educational investments. Tips, tricks and traps.

Abstract

Education investments will more than likely consume the majority of every restructuring dollar you spend. So start estimating them early. Additionally, ensure they are properly budgeted in the appropriate years. Base your investment estimates on the number of people you intend to educate and the time required to do it. Lastly, when it comes time to actually spending the money, "layer-in" your educational requirements over time, when appropriate educate where the work gets done, and "back-fill" staff only when necessary, always using the least cost approach available at the time. Most importantly, don't undervalue the return on your educational investment. It will undoubtedly be one of the best "moves" you ever make.