The methodology to perform benefit-cost studies exists, but there is much ambiguity concerning the implications of such studies as a result of using faulty methodology. For example, control groups are a necessity, as are adequate sampling procedures and adjustment for non-response bias and self-selection bias, and all studies do not employ this methodology. Another limitation is that currently a benefit-cost study will only show whether or not a program appears to pay. Further judgments must be made on whether to expand or cut back the program, and what to give up or take on. In spite of these and other limitations, benefit-cost analysis interjects a systematic analysis into a previously judgmental area. The cost and methodological limitations of such studies will inhibit their immediate widespread adoption. This study, written for non-economists, surveys the various approaches to improving the analysis of vocational education and related manpower training programs. (CD)