COST REDUCTION WORKSHOP – 2 DAYS
COST REDUCTION WORKSHOP – 2 DAYS
The future of every business depends on how well costs are managed and controlled. The cost of running business increases naturally. Without the ability to contain rising costs, an entity’s market attraction is lost, and cash flow stifled. Business survival, therefore, requires managers’ commitment to cost control and creation of cost conscious culture. This course looks beyond cost cutting to consider awareness, process efficiency and other strategic cost management approaches even as stiff to reduce operation/project costs is pursued.
Learning Objectives
At the end of this course, participants will:
Understand cost behavior and become cost conscious
Fundamentally reduce cost through process improvement
Apply life-cycle costing in capital evaluation
Make ZBB a real control tool
Perform cost variance analysis and demonstrate the use of standard costs in flexible budgeting
Analyze cost-volume profit techniques to determine optimal managerial decisions
Prepare a master budget and demonstrate an understanding of the relationship between the components
Use activity-based costing where applicable to control cost
Produce action-oriented reports
Deliver long lasting and tangible saving to the organization
Learning Content
The risks of poor cost control
Capital and revenue costs
Cost management approaches
Cost of quality
Process review techniques
Capital evaluation techniques commercial & technical reviews
Sensitivity analysis
The ZBB & budgetary control measures
The concept of decision packages
Managing Direct and indirect cost
Activity-based costing (ABC)
Cost control performance measures and ratios
Cost control report
Action planning.
Programme Programme available as in-plant. Fee: Negotiable
Who Should Attend?
Managers and executives in all function who need to review operation and projects to achieve significant cost reduction.
Property of Impact Consulting Nigeria.
