UK Europe EMEA GCC Time Zones
CPEs: 24
Instructor: Risk Reward Faculty
Level: Intermediate
Tuition: £2,995.00
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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


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
▪ 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.)


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)

Number of delegates:

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Terms and Conditions: You can cancel at any time. Due to the on-going COVID 19 environment cancellations may be made at any time for either a full refund or a credit towards another event occurring within the following 6 month period. Simply email or telephone the London Client Services team at to advise your preference and we will do our best to accommodate your circumstances. Risk Reward Ltd receives the right to a final decision in the event of a dispute.

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