COST MANAGEMENT AND CONTROL TECHNIQUES
Available Dates & Locations
COURSE OVERVIEW
If you fail to plan; then plan to fail. The preparation of feasibility study requires meticulous planning skills as well as the competences of intuition and emotional control. This course aims at providing participants with the ability to model their feasibility study using Excel and addressing market, technical and financial aspects. Also, participants will be enabled to appraise different investments types such as industrial and service projects. Budgeting is a must competency for all professionals in the supervisory and managerial levels. Understanding budgeting types, planning a budget, executing and monitoring budgets are covered in this course. Additionally, delegates will practice budgeting cost methods and techniques to design dynamic budget models. They will also design capital budgeting viability models.
COURSE OBJECTIVES
By completely attending this course, participants will be able to:
- Perform the 4 functions of management using case studies
- Practice different types of budget styles, techniques, and methods and determine pros and cons of each type
- Learn and exercise several cost management techniques to better budget for future expenditures
- Acquire in-depth knowledge and application of the capital budgeting tools and techniques.
- Apply different cost mechanism tools and optimization procedures
- Learn how to differentiate between cost elements and their impact on the overall budgeting decisions.
TARGET COMPETENCIES
- Strategic Planning and budgeting
- Functions of Management
- Budget Cycle, Process and Approaches
- Cost Analysis Techniques
- Capital Budgeting
All managers, supervisors and analysts who plan, design, execute, and/or monitor management costs and budgets. Professionals interested in determining the viability and success factors of capital projects.
This course demonstrates core principles in Budgeting and Planning and utilizes Excel in performing modern and creative techniques of Budgeting. Real-life case studies, individual workshops, and team presentations by participants.
