Finance & Budgeting

Aligning Budgeting with Strategy


Who Should Attend:

  • Directors and senior managers, who are planning their next strategic steps and want to maintain a balance and link with their budgets
  • Operational managers, middle managers, division heads and experienced functional managers who define and implement company or business unit objectives and influence the future direction of their team
  • Finance Departments and Managers working in department related to Strategic and Planning Decisions.

What will you gain?

 Upon successful completion of this course, participants will be able to:
  • Explore the budgeting process, key planning and forecasting techniques used to build and manage reliable budgets
  • Forecasts, adjusting to reflect changing conditions and to improve performance
  • Apply modern budgeting techniques and support strategic cost management
  • Understand how business strategy links with activity-based management and budgets
  • Focus on key strategic control areas in business and finance
  • Use management tools and techniques to support strategic management.

Course Content

Formulating Strategy to Achieve Vision
  • Agree vision, mission, culture and values
  • Key elements in strategic planning
  • Role of finance in supporting strategic planning
Types of Budgets
  • Departmental budgets
  • Cash budgets
  • Capital and operating budgets
  • Master budgets
Types of Costs
  • Fixed & variable costs
  • Controllable & uncontrollable costs
The Budgeting Process
  • How to engage the business
  • Rolling Forecasts Overview
  • Conducting well-structured interviews
  • Designing carefully considered questionnaires
  • Monitoring customer satisfaction
  • Management use of Budget and Forecast Data
  • Categorizing and regrouping relevant information
  • Budgeting Methods
  • Top-down & bottom-up budgeting
  • Zero-based & activity-based budgeting
  • Multiple-scenario based and flexible budgeting
Risk Management
  • Role of risk management in corporate governance
  • Finance’ role in supporting risk management
  • Identify all risks, evaluate potential impact
  • Incorporate strategic flexibility to respond to internal and external changes and pressures
  • Prevent issues becoming risks then turning
  • Prevent Failure of Strategies
Budget Monitoring and Control 
  • Benchmarking and Reporting
  • Financial and non-financial key performance indicators (KPIs)
  • Milestone monitoring
  • Costing techniques and margin management
  • Resource allocation and balancing priorities
  • Creating systems to monitor effectiveness of implementation.

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