Return on Investment

The ICT six college program (seven degree/certificate) review’s costs are as follows:

Expense/In-Kind
$557	7 stipends/mileage  paid for the industry professional two hour sessions
$836	Food/beverages (meals w/meeting)
$150	Additional facilitator for two of the seven reviews
$600	Facilities hosted at Bellevue College *
$2,800	Personnel costs facilitating five sessions, researching/writing seven reports
$25	Printing
$4,968
* denotes in-kind

If each college had done an independent ICT review for a program degree or certificate,  it would have entailed the minimum following hours per task (does not include the mentoring, advice to continue through June 2011):

2 hours to meet with and understand client needs

24 hours to develop a process, including reviewing the current program

8 hours to recruit, outline expectations, and confirm for the review a minimum of four ICT professionals

5 hours to prepare, facilitate review, and ensure payment to ICT industry professionals

8 hours to transcribe ICT review team recommendations, verify validity of recommendations, research workforce demand, and prepare report

3 hours to follow up, vet the report, create an evaluative process, and communicate/follow-up with the college and ICT industry professionals

50 hours at $150*  per hour = $7,500

* Due to economic changes, the Center believes the $150 per hour rate is a 2011 reality.

X 6 colleges (7 actual reviews) = $52,500

* 95% cost savings for the taxpayer, or $47,532.  This does not include the changes the colleges might make if they implement the recommendations and increase a) enrollments; b) student satisfaction; c) increased employment and/or articulation.  This will be assessed in 2012.

From ROI Caculator