How much does it cost and what is the payback/return on investment?
The development of a corporate university is a major investment and should be treated as such from a financial evaluation point of view. A feasibility study and funding forecast is an essential step combined with an estimate of benefits arising in terms of improved organisational performance and competitive capability. Every assignment undertaken by staff and management should be properly monitored and assessed by direct reports with estimates of benefits, i.e. increased sales, cost savings, etc. Properly managed, payback is achieved in 2-3 years.
