The effective management of budgets and operational cost is a key aspect in leading and managing organizations. Nowadays, if contemporary organizations want to stay competitive, they are urged to think, plan and act in terms of value added to customers and shareholders. Along this line, budgeting, as well as tracking, controlling & reducing cost represent essential activities to be performed and monitored as strategies get executed.
To ensure effective financial management of a department or and even the entire organisation, there is the need to prepare a realistic budget and ensure compliance with the approved budget. Furthermore, to ensure this compliance, operational costs need to be monitored and controlled so that as to ensure financial discipline.
Effective Budgeting and Operational Cost Control training course will help participants to understand the main concepts and methodology around cost management and budgeting.
By the end of this Effective Budgeting and Operational Cost Control Course, you will be able to:
- Understand the importance of a well-defined budget process
- Master the budgeting process
- Understand costs behavior
- Explore traditional & innovative approaches to Budgeting & Cost Control
- Analyze process costing
- Manage Balanced Scorecard
- Learn costing and budgeting terminology used in business
- Master techniques for cost-benefit analysis
- Learn how to construct profit, cash and balance sheet plans and budgets
- Learn how to evaluate variances from plan and identify corrective actions
- Understand discounted cash flow (DCF) techniques and their application to financial decision making
- Build and use budgets relevant to your organisation
This Effective Budgeting and Operational Cost Control training course is ideal for:
- Senior managers who manage budgets or managers who are currently managing projects and/or contracts.
- Senior managers who control cost and budgeting for their departments or organizations will also find this course extremely beneficial.
- Financial Planning and Control Staff
- Those with direct or indirect financial responsibilities
- Those from every business discipline and department who have to run departments and budgetary plans, and who are responsible for cost and strategic analysis
- Those from all sectors of industry, irrespective of functional responsibilities, but particularly those involved in manufacturing, production, engineering or sales
- Those working in a project management environment
Our courses in Istanbul take place at the following locations :
Once you register for this course, we will subsequently send the invoice and course information, including location, trainer, and other logistics.
Pay Attention, Please! The course location is subject to availability; the course time will be precise one week before the course start date! We may change the course location if there is no availability, and we will let you know about the location change once it happens.
