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So, you’re looking to get funding for an e-learning project. This process can be daunting, but don’t worry…you’ve come to the right place! We’ve been there and done that many times over, so we’ve compiled a list of suggestions that may be helpful to you during this process. And, as always, feel free to reach out to us as you need anything else. Good luck!
A great place to start is to review existing research on what it takes to create learning (from the individual tasks involved, to pricing and timeline data). Our favorite data come from Bryan Chapman’s study, “How Long Does It Take to Create Learning?”
We recommend focusing on slides 15-20 for e-learning specific data, because they provide pricing for the average “level 2” of e-learning, which includes a nice mix of media and interactivity.
*Side note: Because this study was completed in 2010, we recommend increasing the pricing by about 10-15% to reflect current industry pricing models.
In addition to the benchmark pricing from Bryan Chapman’s study, you may want to consider adding additional costs for project enhancements (which were not included in his research). These could include items like:
Do you have a tight, aggressive timeline?
If yes, many vendors will add a surcharge to the project cost.
Do your courses require WCAG/508 compliance (accessibility and screen reader support)?
If yes, consider increasing the overall funding request by 10-15% (depending on the level of compliance needed).
Does your project include system simulations (with application-based “Try Me” modes for learners)?
If yes, consider adding an additional 25% to the overall funding request.
Does your project include heavy scenario-based learning, or soft skills simulation, with complex branching?
If yes, consider adding an additional 25% to the overall project cost.
Does your content require instructional design and scripting assistance to get it ready for a developer?
If yes, consider adding and additional 25-40% to the overall project cost, depending on the level of support needed.
*Please note that these are average numbers – feel free to reach out to us to discuss pricing for your specific project and needs. We’re here to help!
This is all great, but what questions will vendors have for me? How much information do I need to have prepared? Select the button below for a list of additional considerations to keep in mind when writing your funding request.