Presented by
Falconbury

Cost Control and Reduction

This programme will show your management team how effective day-to-day budgeting and operational control can be used as a cost reduction tool to drive the business forward.

Find out more

  • Format: Bespoke training

Course Overview

Budgeting is more than mere vague control. Budgeting should deliver the corporate strategy, add shareholder value – deliver to investors*

This programme will ensure your management team:

  • Are aware of costs at all times
  • Seek cost reduction from the start – consider life cycle costing
  • Understand real budgeting
  • Use techniques such as ZBB and ABC where appropriate
  • Ensure cost reports lead to ACTION
  • Have a cost management process which delivers

Programme

Budgeting – proper budgeting challenges costs

  • Why budget – the need for detailed business objectives
  • The philosophy of the business
  • What costs are the issue?
  • The importance or having the right culture
  • Can the accounting system cope?
  • Budgetary control measures
  • Designing budget reports – for ACTION

Cost removal – taking out costs

  • The importance of cost reduction
  • What are your and your sector’s ‘problem’ costs?
  • The risks of poor cost control
  • Capital and revenue costs
  • The importance of cost awareness
  • Costs of poor operations design/poor processes
  • Value engineering
  • Removing redundant costs

Zero based budgeting (ZBB) – the principles

  • Much more than starting with a clean sheet of paper
  • What ZBB can achieve
  • The concept of decision packages – to challenge business methods and costs
  • Dealing with overheads – what is meant by allocation, absorption or apportionment?
  • The apparent and real problems with overheads
  • Only necessary costs should be incurred

Cost reporting – selecting performance measures

  • Reports for action – making budgets and cost management work
  • The purpose of a report
  • Content – deliverables and feedback
  • Culture is so important
  • Selecting KPI’s and KPD’s
  • What measures can be used to identify over spends as early as possible
  • Design of cost control reports – reports should lead to ACTION and deliver

We don't have any currently scheduled dates for this course but we can customise it to your requirements and deliver it on an in-house basis for any number of your staff or colleagues.

See below or contact us to discuss yor requirements.

Multiple colleagues?
Talk to one of our training experts to discuss how to:

Run this course conveniently and cost-effectively in-house for your staff and colleagues

Aleksandra BEER
Training expert

+44 (0)20 7749 4749

inhouse@ipi.academy