Check out http://www.isu.edu/itrc/resources/LMS_Focus_Group_Report.pdf
As a ballpark figure, your local operating costs (hardware, implementation, staffing, maintenance, training) won't change much as compared to WebCT. You will still need a server and staff to run and support it. If you want to have a commercial support, it will also cost money. You save the licensing fees and gain flexibility and customization options.
Comparisons and advocacy
Real Cost of Ownership
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