Reflecting Public Opinion, Congress Often Focuses on Problems That Experts

question 4

True/False

Reflecting public opinion, Congress often focuses on problems that experts consider to be of relatively little importance.

Differentiate between cost-effectiveness evaluation and cost-benefit evaluation in the context of training programs.

Recognize the importance for trainers and HR professionals to calculate and demonstrate the financial results of training and development investments.

Understand the reasons why managers might avoid the costing process in training and how senior management can encourage the incorporation of costing and quantifiable benefits in training programs.

Understand the concepts and differences between mobbing and bullying.

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Definitions:

Overhead Efficiency Variance

The difference between flexible budgets using actual volume and standard volume. It is an estimate of the additional overhead incurred.

Direct Labor Hours

The total amount of time workers spend directly manufacturing a product or providing a service.

Mix Variance

Captures the effect of substitution among the products, holding constant the number of units sold.

Direct Labor

The cost associated with employees who are directly involved in the production of goods or services.