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CPEs:
24
Instructor:
Risk Reward Faculty
Level:
Intermediate
Tuition:
£2,995.00
NEW Budgeting and Forecasting in Disruptive Scenarios BSL014
Location: UK Europe EMEA GCC Time Zones
First Date: Apr 16 - 18 2024
Duration: 3 days
Programme Director: Risk Reward Faculty
All Dates & Locations
Venue Details
Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.
All our 2024 Live, on-site and Live Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.
Need to bring this course in house, train your team or 1:1? Simply contact us for significant cost savings and dates best suited to meet your specific needs.
Agenda Highlights
Session 1: Management and Financial Strategy
Session 2: Developing Effective Budgets
Session 3: Building the budget
Session 4: Capital Projects
Session 5: Implementing Cost Control
Session 6: Performance Indicators
Session 7: Action Plans
Session 8: The Future
Session 9: Summary, Discussion and Q&A
Overview
Smart cost decisions can unlock higher agility evening, great to profitability and even long-term investment. Virtually all firms are facing disruption and uncertainty. Increasing costs put pressures on senior management facing challenges to sustainability and profitability.
This course enables participants to understand the main concepts and methodology around cost management, budgeting and forecasting. They will be introduced to examples of best practice budgeting, will consider warning signs related to overspending and the remedial actions available.
Who Should Attend
Designed primarily for senior management, members and management of finance functions and those in business units involved with developing or reviewing budgets and forecasts.
Additional Course Information
What Does It Cover?
Session 1: Management and Financial Strategy
▪ Tactics v Strategy
▪ The impacts on uncertainty
▪ Dealing with uncertainty
▪ Alignment to goals and missions
▪ Strategic and Tactical analysis
▪ The role of budgets
▪ Models, Model Governance and Model Validation
▪ Budgeting approaches
▪ Monitoring and Reporting budgets
Case Study: How goals and missions impact budgeting
Session 2: Developing Effective Budgets
▪ The budgetary process
▪ Identifying and developing assumptions
▪ The impact of disruption
▪ The impact of assumptions
▪ Developing suitable assumptions
▪ Annual and monthly budgets
▪ Budget reporting
▪ Budget assumptions and validity
Case Study: Suitable assumptions
Session 3: Building the budget
▪ Getting buy in to the budget
▪ Reviewing the budget
▪ Linking budgets to strategy
▪ Identifying tactical goals
▪ Application of constraints and limiting factors
▪ People and budgets
▪ Sales budgeting
▪ Overhead budgeting
▪ Capital expenditure budgeting
▪ Cash budgeting
▪ Phasing and trends
Case Study: Developing a budget
Case Study: Reviewing budgets
Session 4: Capital Projects
▪ Budgeting for Capital Projects
▪ Analysis of opportunities
▪ Consideration of Risks and Rewards
▪ Cashflow timings
▪ Project budgets
▪ Opportunity Costs
▪ Monitoring and Benchmarking
▪ Reviewing the budget
▪ What can go wrong
Case Study: Reviewing a capital budget
Session 5: Implementing Cost Control
▪ Strengths and Weaknesses of approaches
▪ Understanding and analysing cost drivers
▪ Analysis and Reporting
▪ Cost Modelling and Budgeting
▪ Understanding and analysing cost drivers
▪ Direct vs Indirect Costs
▪ The impact of cost control
▪ Activities and actions
▪ Good and bad practices
Case Study: Cost control in practice
Session 6: Performance Indicators
▪ The role of performance indicators
▪ Balanced Scorecard
▪ COSO
▪ The relationship to control indicators
▪ Warning Signs
▪ Bad budgeting vs Overspending
▪ Analysing variances
▪ Identifying causal factors
▪ Response plans
Case Study: Developing performance indicators in practice
Session 7: Action Plans
• Agile budgeting and forecasting
• Developing a change plan
• Actions to be taken now
Case Study: Key actions
Session 8: The Future
• The impact of ML, AI
• Reporting
Session 9: Summary, Discussion and Q&A
Learning Objectives
Delegates will gain specialist technical and behavioural knowledge, techniques and real world applications while exploring many aspects of modern thinking regarding budgeting and cost control including:
• Using budgets and models as a key element of management and financial strategy
• Analysing opportunities, risks and rewards in the context of capital projects
• Controlling costs through analysis and modelling
• Developing KPIs
• Reviewing cost drivers
Social Learning & Methods
Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory. The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes.
(An invitation via email with access link is included for all participants.)
Registration
NEW Budgeting and Forecasting in Disruptive Scenarios
Course Fee
Apply 10% discount code RISK10 by December 15, 2023 at check-out
Course Fee (per person):
GBP £2,995.00 (+ UK VAT when applicable)
Get in touch and see how Risk Reward can help you
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