An Intensive 5-day Training Course
Budgeting For Performance Management
Planning and Managing Organisational Excellence
Course Introduction
This Oxford Management Centre training course on Budgeting for Performance Management is focused on the imperative facing all organisations to allocate scare resources to create and deliver value to their key stakeholders. In profit making businesses this means creating value for customers and shareholders; whilst in the government and public sectors this means effectively delivering ‘value for money’ services to clients with economy and efficiency. The most successful organisations achieve these strategic goals within an effective performance management framework in which budgeting and cost management have key roles to play.
Budgets are the tool with which strategic high level long-term plans can be translated in to detailed operating plans, which facilitate the implementation and execution of organisational strategy. Cost management is at the heart of an effective system for allocating scarce resources to key processes, products and services to maximise the value created for customers, clients, shareholders and funding providers. This leading edge course will focus on recent development in both the budgeting process, and the approach to cost analysis and management.
This training course will feature:
- How vision and goals are converted in to winning strategies
- Budgeting and cost management’s role in organisational success
- Traditional and advanced approaches to cost analysis
- Business analytics and forecasting methods for budgeting
- Optimising budget reporting for effective management
- Beyond Budgeting and other recent developments
Objectives
At the end of this Budgeting For Performance Management training course, delegates will be able to:
- Understand now budgeting fits in to performance management
- Combine financial and non-financial metrics to budgeting
- Understand and compare different approaches to costing
- Master traditional and advanced approaches to budgeting
- Apply a strategic approach to cost management and reduction
Training Methodology
This Budgeting for Performance Management training course is designed as a highly participative workshop to provide delegates with the opportunity to apply the key principles and techniques of budgeting and cost management. This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes:
- Discussions and opportunities for delegates to share experience
- Application of key principles to realistic case studies
- Hands on practice with Excel forecasting tools
Organisational Impact
- Better organisational alignment with strategy
- Cost and budgeting awareness will be improved
- Improvements to budgeting techniques and outcomes
- Broadened knowledge of performance management techniques
- Awareness of linking financial and non-financial key metrics
- Knowledge of techniques for cost management and reduction
Personal Impact
Participants of this Budgeting For Performance Management training course will be able to further develop their personal management skills by being able to:
- Better understanding of budgeting philosophies and methods
- Practical skills in forecasting and cost analysis
- Raised awareness of organisational critical success factors
- Development of strategic thinking and management
- Valuable skills in developing Key Performance Indicators
Who Should Attend?
Budgeting and cost management are at the heart of organisational performance management; managers involved in any part of this process will benefit from attending this leading-edge training course.
This training course is suitable to a wide range of professionals but will benefit:
- Divisional managers
- Planning managers
- Budgeting officers
- Functional managers and team leaders
- Financial professionals
- Head office reporting team members
Course Outline
Day One
Budgeting and Business Performance Management
- Creating value for key organisational stakeholders
- Business Performance Management (BPM) frameworks
- The fundamentals of competitive strategy
- The vital role of budgeting and cost management in BPM
- Principles of financial and management accounting
- Key financial measures of value creation
- Using strategy maps to integrate non-financial measures
Day Two
Cost Planning and Cost Management
- Defining and understanding cost behaviour
- The role of costing in performance management
- Traditional costing: absorption costing
- Traditional costing: marginal costing and break-even analysis
- Traditional costing: standard costing control frameworks
- Developments in costing: Target and Kaizen costing
- Developments in costing: Activity Based Costing (ABC)
- A strategic approach to cost management and reduction
Day Three
Steps and Techniques in Budget Preparation
- Forecasting techniques for budgeting
- Business Intelligence and budgeting
- Diagnostic and predictive analytics for budgeting
- Statistical tools and techniques in sales forecasting
- Statistical tools and techniques for cost forecasting
- Steps in the budgeting process
- Budgeting and managing capital expenditure (CapEx)
- Cash flow forecasting and budgeting
- Styles and approaches to budgeting
- Human and behavioural aspects of budgeting
Day Four
Using Budgets to Monitor and Manage Performance
- Principles of Responsibility Accounting
- Variance analysis and performance management
- Standard costing and cost management
- Using data analytics to find the root cause of variances
- Data visualisation techniques for financial reports
- Designing budget reports
- Dashboards and their use in performance management
- Designing tactical dashboards for budget management
Day Five
Beyond Budgeting to Adaptive Management
- Shortcomings of traditional approaches to budgeting
- Beyond Budgeting case study
- Moving towards decentralised performance management
- Replacing budgets with rolling forecasts
- Using key driver forecasts for risk management
- Using balanced scorecard to manage Key Performance Indicators
- Why traditional budgeting still has a key role to play
Certificate
On successful completion of this training course, Oxford Management Centre Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor will be awarded to the delegates
Accreditation
In association with
This training course is also part of below 10-day title:
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FREQUENTLY ASKED QUESTIONS
Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:
- Telephone: +971 50 985 0174
- E-mail: info@oxford-management.com
Yes, Oxford Management Centre is accredited by the following professional bodies;
National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.
Yes, discounts are available. For further information please call +971 50 985 0174 or email, info@oxford-management.com
Note: Discounts are not applicable with any other special offer that may be available.
All course bookings made through Oxford Management Centre are non-refundable. By registering for a course, you acknowledge and accept that fees are payable in full and are not subject to refund under any circumstances, including but not limited to participant dissatisfaction, changes in personal or professional circumstances, or partial attendance.
Oxford Management Centre reserves the right to make reasonable adjustments to course content, trainers, or schedules where necessary, without entitling delegates to a refund. Full details of each course – including objectives, target audience, and content – are clearly outlined prior to enrolment, and it is the responsibility of the delegate to ensure suitability before booking.
There are 2 easy ways to register:
- Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
- E-mail: Send your details to info@oxford-management.com
We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.
For more information request, email info@oxford-management.com or call +971 50 985 0174.
The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.
While, online training fees cover the course presentation and digital documentation and relevant materials.
The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.
Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.
Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.
Upon receipt of your registration form, we will send you the following by e-mail:
- Registration Confirmation
- Invoice/Receipt (where appropriate)
If you register online you will receive an e-mail within 24 hours confirming your registration.
