Effective Budgeting and Operational Cost Control

BOC - Global Events & Training Group
Course summary
5 days
Next available date: Enquire for more information - United Kingdom
Corporate Training for Teams

Effective Budgeting and Operational Cost Control

Effective Budgeting and Operational Cost Control - 1 week Course

This intensive Effective Budgeting and Operational Cost Control course from BOC is designed to ensure that managers are able to reach this goal by providing a thorough overview of the key concepts and methodologies involved in cost management and budgeting. In order to provide a complete picture, it also explores the issue of operational costs and how these will need to be controlled in order to promote financial discipline and also respect budgeting limits.

By the end of the course, participants will have the ability to:

  • Apply the core principles of finance, accounting and budgets
  • Use unit cost measurements in performance-based budgeting
  • Maintain strategic cost control
  • Understand the importance of minimising unnecessary costs
  • Determine adequate outputs for an organisational unit or programme component
  • Assess the costs needed to produce those outputs (including cost per unit)
  • Write budget justifications according to best practice guidelines
  • Integrate performance budgeting into the wider company budget formulation process

Suitability - Who should attend?

This Effective Budgeting and Operational Cost Control course is suitable for senior managers who need to manage budgets and control costs for their departments or organisations.

It is also beneficial for managers who are currently managing projects or contracts and would benefit from more advanced budgeting skills.

Training Course Content

Course content includes:

Introduction: Building a Common Financial Language

  • The key role of budgeting and cost control in contemporary organisations
  • The 21st century business imperative: delivering value added (but to whom?)
  • Towards a cross-functional process-view of the organisation
  • Financial vs. Managerial accounting (for decision making)
  • Understand you processes: integrating financial and non-financial aspects
  • Identify the key processes/projects for your own organisation

Contributing effectively to Strategic Planning 

  •  Budgeting and Cost analysis
  • Cost concepts and terminology
  • Different costs for different purposes
  • Fixed Vs Variable costs: the Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Manufacturing vs. non-manufacturing costs
  • Period Vs. Product costs: inventory evaluation and control

Linking Budgeting and Forecasting into the Business’ Strategy

Traditional vs. Advanced Techniques in Cost-control

  • Under-costing and over-costing: the consequences for profitability
  • How to refine a costing system?
  • Indirect (OH) Vs. Direct costs: Traditional Cost Allocations systems Vs. Activity-Based Costing (ABC)
  • Cost hierarchy & Cost drivers
  • Linking resources, activities and management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)

Preparing Rolling Forecasts

  • Role of forecasts and the link to strategy
  • Comparing and contrasting budgets and forecasts
  • Identifying key business drivers
  • The rolling forecast process
  • Forecasting methods

Applying ‘best practice’ risk management and control in your area

  • Role of risk management in corporate governance
  • Finance’ role in supporting risk management
  • Cost / Effective risk management in Finance’ own processes

Cutting costs and improving effectiveness

  • Role of cost management in the business strategy
  • Cost management and motivation
  • Embedding cost control in the business
  • Role of Finance in cost control

Beyond the Budgets: Balanced scorecards and Six-sigma

  • Broadening performance measurement systems
  • The key role of customer satisfaction and business process reengineering
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • Introducing the Strategy maps


The cost of this 1 week course is £3,190 + VAT.

In-House Training
BOC offers off-the-shelf, customised and bespoke training solutions for organisations looking to bring their training in-house.

Provider: BOC - Global Events & Training Group

BOC Global Events & Training Group

BOC - Global Events & Training Group: Training for Ambitious Professionals Worldwide

Based in London, BOC is an international event organiser and corporate training provider dedicated to helping organisations carve out the market space or "blue ocean" they need to overcome the competition and reach their goals. With a commitment to a...

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Contact information for BOC - Global Events & Training Group

BOC - Global Events & Training Group

25 City Business Centre
25 Lower Road
SE16 2XB London

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