6.2. Setting Up the Budget

Putting together a budget proposal may seem like a daunting task. It is, but not because of the mechanics of it. Budget proposals tend to be simple, require limited financial or mathematical skills, and are guided by a company's finance organization. Forecasting is challenging because of the need to define items, clarify scope, and estimate costs. Therefore the focus of this chapter is on budgeting challenges that are more subtle and not on the mechanics of the budgeting process per se. It often takes years for training managers to discover these challenges on their own.

6.2.1. Complexities of Training Costs

Determining the true cost of technical training in an organization can be challenging, and many executives—both ...

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