Forecasting and Cost Reduction for Non-Financial Managers
Restructuring traditional budgeting and improving your financial abilities to meet up with
competitive business expectations and managing financial crisis
Key benefits and learning outcomes:
• Understanding essential attributes for cost management
• Being aware of cost at all times and their impact on business
• Learning how proper budgeting and detailed costing can assist in cost reduction and management
• Measuring cost reporting and selecting performance measures to take charge of behavioural issues that enhances and gives a positive impact
to your budgeting plans
• Seeking cost reduction from the start
• Designing and studying appropriate action oriented reports
• Developing individual cost management action plans which delivers
• Implementing Zero Based Budgeting (ZBB) and Action Based Budgeting (ABC) where and when it is appropriate
• Understanding real budgeting and ensuring cost reports lead to ACTION
WHY THIS IN-HOUSE TRAINING IS CRUCIAL FOR YOUR ORGANISATION
In today's highly pressurised business environment, the key to achieving success is to have a budget and accounting system that supports long-term goals. It is important to link strategy to business activities.
As for that, controlling costs is so much more than cutting costs - the costs should not be incurred in the first place! There will only be proper cost control when managers and engineers live with concept of identifying business risk and likely cost overspend problems before commitment and designing them out of production and projects. The objective of the course is to instill knowledge of exactly what cost means to business and thus how to be most effective in business and to demonstrate that cost management is so much more than cost control and cost cutting. True cost management is about being aware of costs, seeking to reduce them through good design and operation practices and taking continuing action on overspends.
This training is an in-depth and practical two-day course that demystifies financial concepts and provides tools for enhancing effectiveness as a manager who is not left out of the game. Whatever the area of cost management you wish to improve there are techniques backed up with case studies and practical checklists which can be applied immediately back in your company - to improve your cost awareness and management.