Demystifying Technical Training: Partnership, Strategy, and Execution

6.1. Considerations in Advance of Funding

Before exploring the topic of budgeting and funding of technical training, a clarification of terms is needed. The words "funding" and "budgeting" are often used interchangeably, although they do not mean the same thing. Using the right language increases the training manager's credibility.

NOTE

BUDGETING

Forecasting future expenditures and revenues

FUNDING

Allocating resources to line items on a budget

Because stakeholders often perceive training to be an expense rather than an investment, the training manager needs to do some pre-work prior to the budget cycle. Several suggestions are presented to make the case for funding technical training, including identifying the business reasons, understanding ...