Managing Your Costs and Budget More Effectively

Do you know the costs associated with every area you oversee? Do you fully understand the financial impact of your decisions? Are you familiar with the ins and outs of forecasting and budgeting?In this course, you will discover how to quantify the results of your work. Determine whether the profit earned is higher than the costs of site space, machines, inventory, customer credit, etc. And measure the value you create.

Also Available as:

• Onsite

*Purchase any AMA OnDemand course by October 31, 2013 for only $995.

Schedule Duration Attendees 3 Month Subscription 1 2 3 4

How You Will Benefit

• Assess all aspects of your operation and control the risk of slippages
• Discover the different characteristics of various tasks to better understand the results of your work
• Make forecasts that are consistent with the company's strategy
• Effectively manage the costs relating to your work
• Become proficient in the methodology behind and steps involved in drawing up a budget
• Establish a budget utilizing scenarios you select
• Evaluate the impact of your decisions in terms of cost, economic performance and value creation
• Anticipate how your decisions impact subordinates’ behavior

Learning Plan

Analyzing costs

• Identifying the various costs associated with your work
• Determining how to calculate costs
• Knowing how to manage costs by department

Evaluating your performance

• Setting monthly targets
• Knowing your company’s strategy
• Identifying the sources of value creation

Translating managerial decisions into dollars

• Associating your forecasts with the company strategy
• Gaining proficiency in budgeting
• Knowing how to revise your budget

Who Should Attend This Course

Managers with budget responsibilities who are interested in developing or improving their budget planning skills.