As we advance into the service-led and knowledge-driven economy so we seek to build value though the acquisition of individual knowledge and skills. The role of the trainer becomes one of supporting, accelerating and directing learning interventions that meet organisational needs and are appropriate to the learner and the context. Our approach to the reporting and measurement of learning needs to change as a result. This session will draw on some research from both the UK and the US and present a different approach to the analysis, measurement and reporting of the value of learning. It will be argued that we need to move from return on investment to return on expectation. Although practical guidance will be presented this session is based on the results of field research and has theoretical content.