A Feasibility Study of the Tertiary Vocational Education in Animation and Visual Effects Program at Rajabhat University

Abstract

This is a feasibility study for a one-year vocational education program in animation and visual effects at Rajabhat university, with a projected duration of seven years. The first year of the initiative will generate no revenue, which will be used to educate university faculty in India in order to improve their skills in animation and visual effects. The cost of 15 staff members studying in India is about 6.19 million baths, while the cost of computer hardware is approximately 3.54 million baths and the cost of software is approximately 1.35 million baths per year. The project is funded by the university's treasury at a cost of approximately 3%. The cost of education for students enrolled in this initiative is about 100,000 per student per year. This project's curriculum for animation and visual effects included three modules: 3D animation, compositing, and dynamics simulation. Each year, the maximum number of students is sixty. The results indicate that a minimum of 35 students is required for this project in order to achieve a payback period or discounted payback period of about 5 years and an internal rate of return of approximately 6.55 percent. Additionally, if the number of students reaches 60, the payback period will be about two years and the internal rate of return will increase to 29%.