By the end of this course, participants will be able to:

• Develop budgets that support strategic objectives.
• Analyze variances and apply corrective actions effectively.
• Use Excel-based tools to support financial decisions.
• Implement cost control techniques to enhance profitability.
• Integrate financial planning into business operations for value creation.

• Department and team budget holders
• Financial analysts and planners
• Cost controllers and budget coordinators
• Professionals involved in business strategy and performance reviews

1. Budgeting within a Strategic Framework

• Importance of budgeting in organizational success
• Translating business strategy into financial plans
• Designing better budgets
• Strategic group discussions

2. Budgeting Process

• Budgeting frameworks across industries
• Top-down vs. bottom-up budgeting
• Identifying cost drivers and information sources
• Revenue, overhead, and cost classification

3. Practical Guide to Developing Budgets

• Approaches: Incremental, Zero-Based, Formula-Based
• Budget types: Static vs. Rolling, Imposed vs. Participatory
• Behavioral considerations in budgeting
• Excel modeling of master budgets

4. Tracking Budget Performance

• Budget vs. actual performance
• Variance analysis: Cost, schedule, qualitative inputs
• Control ratios and continuous review

5. Applied Budgeting Tools and Optimization Techniques

• Using Excel tools: Scenario Manager, Goal Seek, Solver
• Breakeven and risk analysis techniques
• Sensitivity analysis and decision-making under uncertainty

The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.