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How to Predict Learning’s Value: The PE Model
A disconnect exists between what the CEO needs to make valid decisions and what learning leaders present. One answer resides in the Predictive Evaluation model.
Learning professionals typically don't operate like the rest of the company: They promise a world-class learning experience and ask for a budget and forecast the number of people they’ll affect.But when senior executives are deciding where to invest within their company, the criteria they typically use is return on investment. Therefore, a disconnect exists between what the CEO needs to make valid decisions and what learning leaders present. One answer to this dilemma resides in the Predictive Evaluation (PE) model. By using techniques from the likes of finance and marketing, the model predicts value, measures against those predictions, uses lead indicators to stay on track and reports in a format executives are able to understand. It assesses the business value of training in a straightforward, compelling way, and interweaves outcomes and leading indicators to move from an event-driven function to one that predicts success.Predicting learning’s value is similar to the approach executives use to decide what equipment to purchase or products to launch. Lacking sufficient information, decision makers fail to support learning programs that have the greatest potential for producing significant value to the company. When executives decide to spend money in learning and development, they evaluate their options on the basis of financial returns to the company. The PE approach allows companies to predict results prior to delivery, decide whether the benefits are worth the investment, and, if the choice is to move forward, evaluate and report so the corrective actions are implemented as needed.The methodology allows companies to predict impact, adoptions, projected success rate and intentions that will enable them to begin adoption.One essential component that makes predictions realistic is to get help from others. Learning leaders don’t create predictions; instead, they facilitate the process, working with experts to create predictions and forecast value. Therefore, assemble a steering committee and walk them through the methodology. A key benefit is that the steering committee owns the data and presents it to decision makers for approval.
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