Certificate In Cost Control & Management

The aftermath of the financial crisis is the ever increasing pressure on revenue. Faced with a competitive market with virtually no price advantage, the only way to succeed and survive is by managing costs. Cost management brings with it a trap wherein the managers fail to identify the costs that can be controlled without harming the bottom line. This course will take you through a journey of developing an in-depth understanding of the components and behavior of cost leading to introduction of contemporary tools for deciding on achievable cost reduction targets

Course Objectives

• Learn all about the tools and techniques in cost control for effective decision making
• Understand the nature and behavior of costs and be able to link it to budgeting
• Implement your own cost management system by applying the right tools and techniques

Who Should Attend?

This course is designed primarily for those managers/supervisors within the finance function who need to strengthen their cost control and management capabilities. Those who are responsible for budgeting, financial planning, financial control, credit management, accounting as well as any finance professional who has an interest in controlling the cash flow for their organization will certainly benefit.

Course Outline

• Cost management and strategic decisions
• Components of cost
• Cost accumulation and reporting
• Cost accumulation methods
• Cost reports and decision making
• Control and management
• Managing cost of capital
• Budgets and standards
• Balanced Scorecard
• Identifying cost reduction targets
• Decision tree
• Designing a decision dashboard

Course Methodology

A variety of methodologies will be used during the course that includes:

• (30%) Based on Case Studies
• (30%) Techniques
• (30%) Role Play
• (10%) Concepts
• Pre-test and Post-test
• Variety of Learning Methods
• Lectures
• Case Studies and Self Questionaires
• Group Work
• Discussion
• Presentation

Course Fees

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Course Timings

Daily Course Timings
08:00 - 08:20       Morning Coffee / Tea
08:20 - 10:00       First Session
10:00 - 10:20       Coffee / Tea / Snacks
10:20 - 12:20       Second Session
12:20 - 13:30       Lunch Break & Prayer Break
13:30 - 15:00       Last Session