Training Budget Worksheet

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Unit VI Training Budget Worksheet

BOS 3751-15I-3, Training and Development

Columbia Southern University

This training plan that we plan to implement with approval from management will help our company avoid future costs in worker compensation claims and time lost. Below I have provided a training cost worksheet for years one through year five. The total cost for the entire five-year training plan would come to $9038. This is only a fraction of the price of a protentional workman’s compensation claims. This training plan will ensure employees have the ability to not only identify hazards in the workplace but to also be able to identify the appropriate PPE need to accomplish the task. This will eliminate workplace injuries, absenteeism, and help cut down on workman’s compensation claims. After conducting research of the recent injuries in our workplace this training was designed with the focus of preventing any future occurrences. We reviewed the estimated costs to the company should an injury claim be filed. There were multiple injuries to choose from but we narrowed it down to three that have the highest probability of occurring at our company, these claims were for Loss of Hearing, Amputation, and Vision Loss. All estimations were taken from OSHA’s Safety Pays Program. The estimated cost of these three combined injuries would come to $339,304, (OSHA’s $afety Pays Program, n.d.). If approved and implemented this program at the current cost of $9038 has the potential to save our company hundreds of thousands of dollars.

TRAINING COST DATA WORKSHEET – Identifying Safety Hazards and PPE to protect you Type of CostEstimated Unit CostUnit MultipliersTotal CostTiming of ExpenseDEVELOPMENT COSTS    Curriculum Development    Internal Salary-loaded cost$36/hour30 hrs.$1080Year 1MaterialsComputer$700N/A$2370Year 1Projector$400White board$200Computer desk$70PPE$1000IMPLEMENTATION COSTSInstructor CostInternal Salaries-loaded out$36/hour1 x 31.5 hrs.$1134/yr.Year 1 1 x 1.5 hrs.$54/yr.Year 2-5Student costInternal Salaries-loaded out$14/hour/employee12 x 1.5 hrs.$252/yr.Year 1 – 5Materials Student materials (equipment, manuals, etc.)N/AN/AN/AN/AOTHER LIFE CYCLE COSTS Recordkeeping, evaluation of training, 36/hour/employee1 x 15$540/yr.Year 1- 5Software licensing or maintenance fees$70/yr.N/A$70/yr.Year 1-5YEAR 1 COST$8122YEARLY COST, YEARS 2 TO 5$916TOTAL PROGRAM COST, 5 YEARS$9038

This training will cover how to identify safety hazards in the work environment, the appropriate PPE for those hazards, and how to properly use that PPE. The expected outcome is to enhance employee’s ability to recognize hazards and the appropriate PPE for those hazards. This information should help with decision making and with the reduction of on the job injuries which will reduce time away from work.

Reference

Haight, J. M. (Ed.). (2012). Hazard prevention through effective safety and health training. Des   

OSHA’s $afety Pays Program. (n.d.). Retrieved from Occupational Safety and Health Administration: https://www.osha.gov/dcsp/smallbusiness/safetypays/estimator.html

  • Plaines, IL: American Society of Safety Engineers.



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