Struggling with Training Budget Prep? Tips on Allocating Funds and Gaining Approval

Training Budget Preparation

I need a basic outline on how to prepare a "training budget." It would be great if the following points are covered:

1. How to allocate funds for training activities.
2. The process of getting budget approval.
3. How to consider both internal and external training while preparing the budget.

I already have the training calendar and plan prepared for the financial year, approved by management. The only thing I'm unable to understand is how to prepare the budget and present it to management. Can anyone share some format for the same?

Thanks in advance!

When you got the training calendar approved, at that time, you should have also approved the budget. What is the use of a training calendar without a budget? Based on the calendar, you now need to determine how many training programs can be conducted with in-house trainers and how many would require external trainers. The charges for external trainers will vary depending on the type of training program. Additionally, there will be expenses for hiring the venue (if conducted externally), training materials, stationery, etc.

Therefore, you will need to put in a lot of groundwork as this will be a lengthy exercise.

Thanks,
Dinesh Divekar

Can I also get any sample format regarding the same.

Thanks in advance

Hi Nishant,

Redirecting you to https://www.citehr.com/31110-re-trai...-download.html.

Regards,
Brinda

Key Considerations for Preparing a Training Budget

Please consider the following aspects while preparing a training budget:

1) Trainer Fees
2) Training Props Cost
3) Boarding and Lodging of Participants (for training conducted outside the office premises)
4) Travel Cost of Participants (if any)
5) Boarding and Lodging Cost of Trainer (if any)
6) Travel Cost of Trainer
7) Boarding and Lodging Cost of Coordinator (if any)
8) Travel Cost of Coordinator
9) Cost of Audio Visual Equipment (projector, screen, speaker, etc.)
10) Cost of Photographer/Videographer (if required)
11) Cost of Gifts for Participant Engagement
12) Entertainment Cost of Participants (if any)

Hope this helps! :)