360 cost benefit analysis

COST-BENEFIT-ANALYSIS

Create 360 assessment survey participant

This cost benefit analysis will compare a paper and excel process to an on line web based survey system called 360plusfeedback.com. A tier one automotive supplier compiled the following data. Based on the following volume uses at their facility.

Leadership Development Survey 100 annual participants, 750 respondents.
Weekly Quality Survey Required by Customer, 15 respondents.
Bi-Annual Customer Satisfaction Survey, 250 respondents.
Quarterly Employee Survey, 660 respondents.

A tangible annual costs savings occurred in the general area of data collection, data entry and data analysis.

Area of difference or Description of Tasks	Time per Survey	Time per Respondent	Survey Minutes	Respondent Minutes	Total Hours	Annual Dollars Saved
Combining Spreadsheets	10	2	1580	9340	182	$3,640.00
Compiling Data	17	2	2686	9340	200.433	$4,008.67
Data Entry per Respondent	5	1	790	4670	91	$1,820.00
Creating Graphs	15	0	2370	0	39.5	$790.00
Total			7426	23350	512.933	$10,258.00

Other areas of improvement seen as intangible benefits were:

Reduced stress on internal server and IT department
Eliminated IT support for excel spreadsheets as attachments on email.
Ability to tie developmental plans to results, previously not done.
Accuracy improvement. Validated by 1987 study by Texas A & M that compared automated data collection to manual entry. Automated data collections prove an accuracy rate of 100% compared to 96% by manual key entry.
Confidentiality complaints were eliminated.