From ROI to VOI - Organizations are failing to tie learning to business impact
Many organizations implement "learning engagements", or PM training programmes, to increase employee satisfaction, realise better project team performance, and improve communication and results. But do these organisations understand the impact of these programmes beyond traditional employee engagement measures?
Return on investment (ROI) is the traditional method of measuring learning impact. It is rarely implemented, but as times change, a more holistic approach is necessary to capture the quantitative and qualitative value of learning.
It is worth differentiating between ROI and business impact. ROI refers to a financial measurement that typically involves a bottom line number, while business impact relates to the overall value of what you are getting, beyond just the financial aspect, for the investment you make. Organizations need to move beyond ROI to capture the overall value of their PM learning investment (VOI).
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