SESSION ABSTRACT: Research has indicated that more learning takes place in a work setting through informal rather than formal means. Yet companies invest far more resources in formal training and learning activities. In effect, their learning portfolios are out of alignment with the relative returns of different learning investments. In this presentation we will describe our research to develop and apply a learning effectiveness index, which is used to evaluate learning investments. Indicators include 'Learning Use? and 'Learning Impact, which are bi-polar, continuous variables. Once practices are scored and ranked, resources can be allocated on the basis of those scores to maximize human capital development and organizational performance. LEARNING OBJECTIVES: Formulate a picture of your organization's learning portfolio. Apply indicators to evaluate the relative effectiveness of learning practices. Allocate resources to maximize the performance and impact of learning portfolios.