Calculate the cost of an elearning training
Several factors allow you to rather precisely evaluate the cost of an elearning training. From resources to content, here are some points to consider.
How do you price an elearning training?
Depending on your learning objectives, an analytical framework can help you identify the different types of costs:
1. Staffing resources
How many people will be dedicated to the project? Are they internal or external to the company?
In business, launching an elearning programme involves many stakeholders. These can include finance managers, HR managers, technical managers, and trainers. Working with elearning specialists outside of the business is certainly an investment, but it frees up more time for the teams. Being able to rely on technology in SaaS mode prevents the company from needing to deal with technical problems, which are often complex and expensive.
2. Content resources
Does your content already exist or does it need to be created? Do you have all the information available, or does it need to be formalised and then written? Are there assessment tests?
Creating a scenario from multiple resources is one of the most expensive parts of developing an elearning programme. Capitalising on existing training content can significantly reduce the initial investment.
What types of content will be offered? Are you going to use images/existing videos or will you buy them, or produce them even? Do you need animations, podcasts or other technologies?
- The cheapest solution is to start with what exists (it may even be a PowerPoint) to quickly launch the training. Remember, rapid learning is the key!
- If the company opts for a rich media content, which combines several interactive multimedia elements into the training, costs will increase.
- Lastly, a serious game, which is highly interactive and involving for the learner, is the most expensive type of elearning solution.
4. Interactive elements to support your scenario
What tools will you offer to create a dialogue with your learners? It’s very important to identify these type of costs from the beginning: simulation, evaluation, or even a wiki, forum or videoconferencing.
To support your educational goals, it’s important to maintain contact with the different learners. A wiki is the cheapest solution, whereas blended learning, which is more involved, is the most expensive. Somewhere in between, a forum or video conference could offer a reliable and appropriate alternative.
Similarly, the activities chosen to evaluate vocational training generate different types of costs.
5. Project management
To manage the budget it’s important to stick to the decisions made during the development of the training. Each change made along the way affects the entire programme, and the price goes up. Decisions should be taken with a lot of discipline.
Remember that the initial costs are amortised over several years when the course can be reused without change, for the next learners.