Effective Performance Management and Budgeting for Managers

 

Facilitator: Steve Willis, FCCA

International Trainer/ Presenter/ Consultant/ MBA Instructor

In today’s volatile business environment, companies need to enhance their performance management processes to meet the high demands placed on management. The budget is a critical planning and control mechanism for managers. Setting performance targets, monitoring performance against those targets, and then evaluating both individual and organizational performance are just some business activities that begin with the budgeting process.

This online course takes participants on a deep dive into budgeting and how budgeting supports the broader discipline of performance management. They will explore the different purposes of budgeting, approaches to preparing budgets, and preparation of budgets using spreadsheet tools. The course facilitator will also introduce the latest developments in budgeting and participants will evaluate how this evolution might help their organization. Budgeting is hence an important tool of performance management, and delegates will look at where budgeting fits in the strategic planning process, and how budgeting is used to control performance.

Learning Outcomes

  • Understand the importance of strategy and its role in budget creation
  • Gain insight into best practices in budgeting
  • Understand the role of budgets in the management and control processes
  • Prepare a master budget and cascading functional budgets
  • Measure and evaluate performance
  • Create a flexed budget for evaluating short-term performance

Content

  • Strategic planning, objective setting, KPI formulation
  • Budgeting and the performance management hierarchy
  • Types of budgets, including fixed, flexible, rolling, zero-based, and others
  • Standard costing, variance analysis and other tools of financial control
  • Different approaches to setting a price for your product or service
  • Alternative view of budgeting

Learning Activities

During the course the concepts introduced will be practiced with both interactive and individual activities. The course will also include technical articles and virtual presentations from the leading thought-leaders on performance management and budgeting. Participants will present their work virtually to their colleagues on the course for further feedback and discussion.

Prerequisite:  A basic financial background is compulsory.

Target audience: Executive and Senior Management Staff, Accountants, Budget and Planning Managers/Officers, Heads of Accounts departments and their Senior Personnel, Auditors, Heads of Strategic Business Units, Performance Monitoring and Improvement Managers, Strategic Planning Personnel, Cost Control Managers and all others whose functional and supervisory role include budgeting, performance management and cost control functions.

Number Of Participants: limited to max. 12

The webinars will be highly interactive, based on discussions and case studies. 

Steve Willis, FCCA is passionate about helping business, banking and finance professionals learn new skills and advance in their careers.  Over the past 15 years, Steve has delivered thousands of days of consulting and training for global organizations such as the Big 4 accountancy firms, multinational companies, shared services centers, USAID, World Bank, ACCA, and many others, and had delivered training courses in over 30 countries across the globe.

Steve specializes in technical training in finance and accounting and in a range of human and people skills, such as change management, performance management, communication, and presentation skills. He holds a FCCA certificate from ACCA.

The course is delivered in-house for a group of participants from the same institution and the content could be customized; the dates for delivery shall be agreed with the client.  

Duration: 8 hours (net) – 2 sessions x 4 hrs/day – online

The webinars will be hosted and delivered using ENVISIA Online Platform, allowing the virtual participation, both from home or from work, with no risks associated, using just a browser. After the registration to the course, one day before the webinars took place, the participants will receive a link to access the virtual classroom.  

A certificate will be issued by the e-learning platform, after the course.

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