Effective Budgeting and Operational Cost Control

EXECUTIVE SUMMARY

The Effective Management of Budgets and Operational Costs is a must for leading modern organizations successfully. Nowadays, if organizations want to stay competitive, they are urged to think, plan and act in terms of value added to customers and shareholders. Budgets are essential in this context. Proper planning, as well as tracking, controlling & reducing cost represent crucial activities to be performed and monitored as strategies get executed. In addressing these issues, this training course is relevant for those professionals and analysts facing the difficult challenge of improving performance while reducing costs for the business and processes they are accountable for.

TRAINING COURSE OBJECTIVES

By attending this HERO training course you should achieve these goals:

• Master the Budgeting Process
• Understand Costs Behavior
• Explore Traditional & Innovative Approaches to Budgeting & Cost Control
• Improve Cost Savings Activities
• Manage KPIs and Balanced Scorecard

DESIGNED FOR  

This training course is suitable to a wide range of professionals but will greatly benefit those with direct or indirect budget responsibilities within a Team, Department or Division.

COURSE OUTLINE

Amongst a wide range of valuable topics, the following will be prioritized:

ü  Understand the Role of Budgeting and Costing in Modern Organizations

ü  Link Budgeting with Strategic Planning

ü  Explore the Budgeting Process

ü  Analyze OPEX and CAPEX

ü  Understand Cost Classification

ü  Use Contribution Margin Analysis

ü  Manage Direct and Indirect Costs

ü  Explore Variance Analysis

ü  Understand Performance Measurement and Management

ü  Select KPIs and Develop proper Dashboards and Scorecards