Certification Mistakes You Don't Have To Make,
There are so many variables to consider when estimating how
much certification will cost, that it's not surprising
that the calculation is often done wrong. Sometimes, it
isn't done at all.
Why is underestimating the cost of certification such a big
deal? Consider these potential scenarios:
run out of funds before you're done. If you end up taking
an extended break from your certification program, some
of your qualifications may expire and you'll have to
meet them again. At best, you'll have to spend time
reviewing to get back up to speed once your budget gets
back on track. At worst, you'll never pick it up
again and your efforts will have been largely wasted.
on ballpark figures you described, your employer agrees
to pay for certification training and testing. You then
submit a bill that's double what you initially suggested.
How will that go over?
decide that a particular certification will more than pay
for itself. But as the bills mount up, you realize you've
grossly miscalculated the figure in question. What will
you do if the certification isn't worth the cost at
the "new" price, yet you've already committed
significant time and resources?
As you can see, miscalculating the cost or failing to
calculate it at all can be a big mistake. It's a mistake
that happens because naming a figure isn't always a simple
process. Part of the confusion arises because there are usually
several different routes to achieving any particular certification.
The largest variance comes under the heading of training expenses.
Whether you self-study from manuals or attend instructor-led,
sponsor-approved classes can make thousands of dollars
of difference in your total tab.
Then there's the somewhat nebulous question of opportunity
cost. To some people, an estimate that doesn't include
it is meaningless. Others consider adding opportunity cost
a false inflation of price. Either way, coming up with
a reasonable figure for it requires a little math.
Given the potential consequences of underestimating the price
tag of a certification program, it's worthwhile to
work out a few figures. The worksheet in Chapter 5 will walk
you through the steps, and you can even plug the numbers
into the Microsoft Excel spreadsheet included on this book's
companion Web site and let your personal computer do the calculating
for you. When in doubt, guess a little high. Having extra
money left over is a problem you can probably live with.
Back to Beginning
Excerpted from Get Certified & Get Ahead by Anne Martinez
Copyrightę 2000. Excerpted by permission of McGraw-Hill All
rights reserved. No part of this excerpt may be reproduced
or reprinted without permission in writing from the publisher.