Effective Management and Budget Control Training course

Course Overview

Welcome to the Strategic Planning and Management Control Course! Strategic planning and management control are the backbone of any successful organization. This course is designed to help professionals drive strategic direction and ensure effective budgeting and control in a rapidly changing business landscape. By participating in this course, attendees will gain a robust framework for improving organizational performance and contributing to value creation. Whether you are involved in project management, departmental leadership, or budgeting, this course will elevate your career and enhance your strategic leadership skills.

Target Audience

This course is ideal for:

• Project Managers
• Heads of Departments
• Budgeting Staff
• Employees seeking to enhance strategic leadership and financial management skills
• Professionals aiming for career advancement in finance and budgeting

Course Objectives

Upon completion of this strategic planning, management control, and effective budgeting course, participants will:

• Understand strategic planning and management control processes
• Learn how these elements interact to manage organizations effectively from strategy formulation to execution
• Recognize, manage, and mitigate risks
• Appreciate leadership's role in maximizing team potential
• Identify key factors for sustainable business success
• Integrate strategic planning with budgeting and cost control processes
• Explore traditional and innovative budgeting techniques
• Understand project management, appraisal, and planning importance
• Develop skills in financial management and operational efficiency

Course Outline

Unit 1: Strategy

• Introduction to strategy and historical developments
• Strategic thinking and consistent strategy development
• Linking vision, mission, and strategy
• Steps for developing and implementing a strategy

Unit 2: Risks

• Understanding the nature of risk and identifying risks in strategy
• Prioritizing risks and contingency planning
• Risk mitigation strategies

Unit 3: Negotiation

• Essential role of negotiation and focusing on mutual interests
• Separating people from problems and remaining objective
• Negotiating with influential people and tactics

Unit 4: Leadership

• Strategic nature of leadership and differences from management
• Practical leadership application and team performance maximization
• Motivating employees and developing a personal action plan

Unit 5: Strategic Leadership

• Intrapersonal and interpersonal skills for strategic leadership
• Innovative leadership skills and team development

Unit 6: Building a Common Financial Language

• Role of budgeting and cost control in organizations
• Cross-functional process view and financial vs. managerial accounting
• Integrating financial and non-financial aspects

Unit 7: Budgeting and Cost Analysis

• Cost concepts and different costs for different purposes
• Fixed vs. variable costs and contribution margin analysis
• Manufacturing vs. non-manufacturing costs

Unit 8: Traditional vs. Advanced Techniques in Cost-Control

• Under-costing and over-costing impacts on profitability
• Refining costing systems and traditional vs. activity-based costing

Unit 9: Master Budget, Flexible Budgets, and Variance Analysis

• Defining master budget and its benefits
• Static vs. flexible budgets and computing variances
• Behavioral implications of budgeting

Unit 10: Beyond the Budgets: Balanced Scorecards and Six-Sigma

• Broadening performance measurement systems
• Customer satisfaction and business process reengineering
• Introducing Balanced Scorecard, strategy maps, and Six-sigma