Investments in web-based training (WBT) have increased presumably to attain cost savings and performance improvement. However, it has been difficult to assess the cost of WBT. In order to conduct an accurate cost analysis of WBT, three primary issues remain as follows: 1) identifying the missing cost components of WBT, 2) assessing the costs of these missing components, and 3) establishing a model to identify the costs of future WBT.