Managing Costs And Budget More Effectively

In Managing Costs and Budget More Effectively training course, you will discover how to quantify the results of your work. Determine whether the profit earned is higher than the costs of site space, machines, inventory, customer credit, etc. and measure the value they create.

Objectives:

• Assess all aspects of participants operation and control the risk of slippages
• Discover the different characteristics of various tasks to better understand the results of their work
• Make forecasts that are consistent with the company's strategy
• Effectively manage the costs relating to work
• Become proficient in the methodology behind and steps involved in drawing up a budget
• Establish a budget utilizing scenarios
• Evaluate the impact of decisions in terms of cost, economic performance and value creation
• Anticipate how decisions impact subordinates’ behavior

Content:

• Analyzing costs
  • Identifying the various costs associated with your work
  • Determining how to calculate costs
  • Knowing how to manage costs by department
• Evaluating your performance
  • Setting monthly targets
  • Knowing your company’s strategy
  • Identifying the sources of value creation 
• Translating managerial decisions into dollars
  • Associating your forecasts with the company strategy
  • Gaining proficiency in budgeting
  • Knowing how to revise your budget