This course will teach the participants how to create a more meaningful budget, and how to use this budget to make more effective important financial decisions.

Learning how to create positive budgets
• Understanding how to keep budget relevant to organization’s needs
• Being able to strategically link budget to management action and decisions
• Being familiar with the major weaknesses of traditional budgeting techniques
• Creating an adaptive performance measurement framework
• Using alternative techniques to traditional budgeting

Finance and accounting professionals
• Budget officers & financial planners
• Project managers & project controllers
• Operations and department managers
• Cost estimators & cost controllers
• Business analysts

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include;
• Lectures
• Workshop & Work Presentation
• Case Studies and Practical Exercise
• Videos and General Discussions

DAY 1
• Introduction to cost management and budgeting
• Best practice for cost estimating, cost budgeting, and cost control
• Cost management plans
• Creating a cost baseline
DAY 2
• Organizational cost budgeting dependencies
• Control thresholds
• Earned value assumptions
• Contracting basics
DAY 3
• Overview of the control costs process
• Inputs to the control costs process
• Tools and techniques for the control costs process
• Outputs from the control costs process
• Procurement planning
• Reporting formats
DAY 4
• Techniques for preparing budgets and forecasts
• Strategically linking budgets to management action
• Non-financial budgets
• Best practice with respect to resource types and cost accrual methods
• Classifying costs correctly
DAY 5
• Microsoft Project's resource sheet
• Developing cost estimating models in Microsoft Project
• Custom views and tables in Microsoft Project
• Predict cost overruns requiring corrective action

A RECTUS attendance certificate will be awarded to all participants who complete at least 80% of the total course duration.