TIME & COST CALCULATOR 2

TIME & COST CALCULATOR

Estimating tools come in a variety of formats across a number of industries. So what makes Instructional Design Genius’ Time & Cost Calculator stand out from the rest? Two things: accuracy & specificity.

 

Most calculators rely on simple formulas to arrive at general estimates that may prove of little value to business leaders and clients. That’s not the case with our calculator.

 

The Instructional Design Genius calculator recognizes that not all requirements impact costs and timelines equally. Our calculator uses complexity variables to account for this dynamic. 

 

Secondly, most eLearning Developers and Instructional Designers cannot dedicate 100% of their time on a given project. Our calculator lets you adjust time dedication in increments of five percent based upon the percentage of an 8 hour workday you can dedicate to the project.

A business meeting in which participants review metrics
Instructional designers point to word bubbles related to evaluation

Moreover, our calculator provides time estimates in terms of both Actual (real) time and Lapsed time which will differ unless you can dedicate 100% of the working day to a given project. This information is pivotal in resource management planning.

 

To calculate costs, the calculator uses up-to-date market data regarding salaries for instructional design and eLearning professionals in major metros throughout the US. This allows for a market specific estimate of opportunity cost when strategizing how to best use an internal resource.

 

Want to determine if you could save money by building in-house versus farming out to an external contractor? Use the editable External Labor field to enter any hourly quote you receive from vendors.