I\u2019m back for Part II of this series designed to help procurement leaders identify the critical differences between online procurement training providers.\u00a0 In Part I, I covered how to evaluate the differences in quality between online procurement training providers.\u00a0 In this Part II, I will cover the concept of \u201ccost per hour\u201d as it relates to online procurement training.<\/p>\n
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To reiterate a point I made in Part I, online procurement training is not a commodity.\u00a0 You can\u2019t just look at the title of an offering and a price and think you know whether it is more or less attractive or a better or worse deal than a competing offering.\u00a0 Let me show you an example\u2026<\/p>\n
I am perusing a course catalog from one of the providers in the space.\u00a0 This provider offers an online course entitled \u201cOptimum Quality:\u00a0 Quality Improvement Methods.\u201d\u00a0 Good title, right?\u00a0 OK, so what\u2019s the cost?\u00a0 It\u2019s $189.\u00a0 Sounds affordable, right?\u00a0 Should you go for it?<\/p>\n
Well, with online training, it is important to know how much education you are getting for your purchase.\u00a0 Often, providers express the length of their online courses in terms of Continuing Education Hours, or CEH\u2019s.\u00a0 The number of CEH\u2019s represents the approximate time, in hours, that it will take the average person to complete the course.<\/p>\n
So, for this particular course, I see that it is 2 CEH\u2019s.\u00a0 So, those that would enroll in this course would be paying $189 for 2 hours of training, or about $95 per hour.<\/p>\n
Let\u2019s do a comparison.<\/p>\n
I\u2019m on a competing provider\u2019s website and found a course entitled \u201cImproving Quality in the Supply Chain.\u201d\u00a0 Looking at nothing other than the title and being familiar with the providers, it sounds like it would cover similar subject matter.\u00a0 So, now let\u2019s take a look at the cost\u2026<\/p>\n
I see that \u201cImproving Quality in the Supply Chain\u201d offers 8 CEH\u2019s.\u00a0 The cost is $229.\u00a0 That seems more expensive.\u00a0 However, it is actually less expensive on a cost-per-hour basis.<\/p>\n
Those that enroll in this course would be paying $229 for 8 hours of training, or about $29 per hour.<\/p>\n
So, from a pure cost standpoint, the second course would be a better value at $29 per hour than the first course, which runs $95 per hour.<\/p>\n
Of course, that\u2019s not enough information to make a decision.\u00a0 You need to consider the quality of the courses as described in Part I and the other factors we are going to discuss in future installments of this series.<\/p>\n
Stay tuned!<\/p>\n
Disclosure:\u00a0 I am the founder of an organization that offers online procurement training.\u00a0 However, in this series, I will not mention the name of my company nor the names of any competitors.\u00a0 I will keep this totally general and vendor-agnostic so that you can get the benefit of one perspective on evaluating online procurement training without getting a sales pitch touting a specific provider.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"
I\u2019m back for Part II of this series designed to […]<\/p>\n","protected":false},"author":12,"featured_media":4006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"\n