Cost Planning, Control & Optimization
Finance, Accounting & Investment
Introduction:
Cost
control is important and yet presents certain challenges. Costs must be managed
without compromising either safety or production quality. This innovative Cost
Planning, Control & Optimization training course presents the delegates
with practical tools and techniques which can easily be applied immediately
within their company and work. It also introduces to the delegates the emerging
tools and techniques to develop for the future.
This
training course will help the delegates to save their employers money without
damaging the business or sacrificing the quality. This Cost Planning, Control
& Optimization training course will feature practical, engaging and
innovative new techniques from different organisations. This training course
will also help the delegates to identify and deliver savings without affecting
the performance, capability, strategy, delivery or safety.
Objectives
By
the end of this Cost Planning, Control & Optimization training course,
participants will be able to:
Proactively
manage costs
Seek
opportunities for cost reduction
Effectively
control costs
Make
better use of cost budgets, plans and forecasts
Understand
project appraisal
Control
costs with projects
Course Outline
Day
One
Cost,
Profit, Risk and Cash
Costs
and Profit
Objectives
- Mission & Vision - Profit Now vs. Profit Later
Strategy
and How It Guides Cost Management Decisions / Strategy Models and Costs
Management
Cost
vs. Value / Value Focused Approaches Profit Drivers
Costs
and Cash
Cash
vs. Profit
Cost
– Cash and Non-cash
Costs
Management vs. Cash Management / Capital vs. Revenue Managing Capital Cost /
Managing Revenue Cost
Cost
and Risk
Introduction
to Risk
Cost
and Risk
Day
Two
Costs
& Costing
Understanding
and Working with Costs
Cost
vs. Value
Value
Based Cost Management / Thinking
Plan
for Cost Reduction and Profit Improvement
Fixed
and Variable Costs Income Statement
Break-even
Analysis / Contribution Margin
Costing
Approaches – Full Absorption, Marginal, ABC
New
Ideas in Cost Management – Lean Principles / ABC – Big data
Day
Three
Planning
and Forecasting Costs / Risk
OPEX
Planning Approaches
Value
Engineering Approaches Applied to OPEX and Personnel Incentives
G&A
Cost Planning and Valuation
Forecasting
Tools and Techniques
What
is Risk?
Modelling
Costs and Profit and Risk
OPEX
Long-term Forecast
OPEX
Planning and Performance Monitoring
Day
Four
Investment
Appraisal and Projects – Capital Budgeting
Building
Cashflow Models for Decision Making
CAPEX
Planning System
Factors
Used to Evaluate the Efficiency of CAPEX Projects, Annual Investment Program
CAPEX
Planning
Applying
Time-adjusted Measures - The Time Value of Money
Net
Present Value (NPV) and Internal Rate of Return (IRR)
Sensitivity
Analysis, Scenario Analysis, Simulation/Monte Carlo Analysis
The
Importance of Flexibility and Options
Dealing
with Risk and Changing Circumstances
Day
Five
Budgets
and Cost Control
The
Budgeting Process
The
Role of Budgeting
Annual
Budgeting Process
Identifying
and Resolving Budgeting Variances
Different
Budgeting Systems in Use Today
Budgeting
Tips and Techniques
Variance
Analysis
Beyond
Budgeting