A project was undertaken in Colorado to evaluate the feasibility of cost-benefit analysis as a source of information for local vocational administrators, to evaluate the effectiveness of a workshop for training these administrators in cost-benefit analysis, and to identify problems that prevent them from using this type of analysis in program development and evaluation. Based on a literature search conducted to determine the utility of cost-benefit analysis as a tool for decision-making by local vocational administrators, it was found that (1) certain conditions such as calculating costs and economic benefits and identifying target occupations must be met before conducting the analysis; and (2) while local vocational administrators can conduct cost-benefit research on their own, the pay-off in information is usually not worth the effort to obtain it. A one-day workshop was held, and fourteen administrative personnel attended. Following the training session, a mail survey of the participants showed that a majority felt an analysis designed solely to reveal monetary costs and benefits to be of minimal use in decision making. (The appendixes include survey and training materials, original project objectives and methodology, and a list of thirty vocational education outcome questions. Also included are the annotated references that resulted from the literature search.) (ELG)