If a training program is expected to reduce the amount of scrap in the production of a product, then a cost-effectiveness evaluation would indicate how much the training program costs and the impact on the bottom line caused by the reduction in scrap as a result of training.

Cost-effectiveness Evaluation

An assessment technique used to determine the best method of achieving a specific outcome with the least amount of resources, commonly applied in health economics and public policy.

Scrap

In a business context, scrap refers to waste material or unwanted items resulting from manufacturing processes, often recycled or discarded.