Business Case – Jit Training
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Business Case – JIT Training
Read the Business Case for the Just-in-Time Training Project in Schwalbe, pp. 91-93. If you were the CEO of the company, would you approve this project? Why or why not? What kinds of concerns or questions might you have?
If I were the CEO of the company, I would approve the project because of the following reasons.
The scope, schedule, cost and risks are clearly described within the comprehensive business case
The project is feasible as its estimated payback is in the second year after implementing the new training program. Moreover, the discounted ROI based on 3 year implementation is 27%
There is no additional cost for initiating this new training program. The current training is far more expensive ($1000 per employee) and is outdated, inefficient and has not improved the productivity of employees in recent years whereas the proposed training program is assumed to reduce the cost by 10% thereby, yielding good returns for the money spent.
Also, the new training program which involves outsourcing would diversify the learning portfolio of employees by equipping them with advanced skills and technologies to compete with fast growing and challenging economy.
The redesigned training program aligns with Global Constructions business strategies of continuous growth and is expected to bring significant changes to the business related outcomes like improved productivity and labor skills
The advanced training program is flexible, interactive, time effective and also provides the knowledge and skills that the employees needs to meet business goals.
Concerns:
The new training program will require detailed analysis and sound judgment to choose the latest technologies while completing the project within proposed budget and time.
To verify if the training program is within tolerances for the expected risks
To ensure that the entire project remains aligned with Global Constructions business plan and strategies
Questions:
Which training approaches (in-house courses, courses offered by universities and online courses) would be best suited for the company to retain and develop the talent needed to succeed?