Background to the Cost Benefit Evaluation Tool

Are we spending enough to make a real difference? Are we spending too much for less? At the 2019 National Skills Summit, the Minister of Higher Education noted that South Africa has a significant budget for PSET, but seemingly has less to show for it. In light of these questions, the Minister for Monitoring and Evaluation in the Presidency asked PSET role players to strengthen their evaluations to show whether we are doing the right thing (relevance and impact) and whether we are doing the right thing right (effectiveness and efficiency) .

Perhaps in anticipation of these questions, a year earlier, the Banking Sector Education and Training Authority (BankSETA) in partnership with Rhodes University, and supported by the DHET launched a meta research project to strengthen monitoring and evaluation in a SETA environment, made up of nine projects that focus on different parts of the PSET system. One of these projects focused on the development of a cost benefit evaluation tool for SETAs.

About the Cost Benefit Evaluation Tool

Developed as part of BankSETAs meta research project to strengthen monitoring and evaluation in a SETA environment, this Cost Benefit Evaluation (CBE) Tool aims to assist you in assessing the costs and benefits relative to your skills development initiatives.

The tool requires your input in two parts of the tool to:

  • *Develop a contextual profile for your learning programme, within which to better understand the costs incurred and the potential benefits of your investment; and
  • *Input the costs that you have incurred to enable the respective learning programme.

With these contextual and cost inputs, the tool generates a range of benefits that can be associated with this investment, and cost benefit results that could help you to:
  • *More accurately assess and report on the costs associated with your learning programme;
  • *Identify cost inefficiencies that might be addressed for improved and efficient expenditure;
  • *Identify and report on the benefits of your investment in learning programme; and
  • *Assess the costs of your investment in learning programmes relative to the benefits derived for the individual, the economy and society.

Through interaction with various stakeholders in your learning programme, such as industry associations, host employers and training providers, we invite you to undertake a cost benefit evaluation of your learning programme to strengthen your monitoring and evaluation, strengthen your reporting and increase the efficiency of your investments in your skills development initiatives.