'Strategic cost optimisation Mastercourse'

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This intermediate to advanced course aims to give an extensive view of effective techniques and methodologies used to achieve significant improvements in organisational performance.

The one-day course helps executives make important decisions relating to strategy, processes, resourcing, mergers and acquisitions, and technology.

It also explains how organisations can maximise stakeholder benefits by adopting approaches that will more rigorously:

  • Prioritise expenditure towards strategic priorities.
  • Introduce greater challenges in the budgetary control and risk management process.
  • Expose and quantify process, activity and functional efficiency opportunities.
  • Establish external and internal service levels by function.
  • Establish the relationship between services, processes and functional departments.
  • Prioritise funding and establish contingency plans.

Given that organisations need to prepare their senior managers to undertake significant change initiatives involving multiple functions, the course appeals to a broad spectrum of personnel.

Staff from very large to medium-sized organisations will benefit the most from participation, including those from government services and healthcare.

Cost optimisation increases profitability and stakeholder value – it also releases scarce resources that can be reinvested into new strategic initiatives. Many organisations find the pace of delivering strategic objectives slow, hampered by resource shortages, conflicting priorities and the complexity of existing structures, processes and systems.

The larger and more sophisticated an organisation is, the greater the potential drag on implementing change. Evidence shows that significant cost reductions normally occur through exploiting new technologies, processes and business practices.

However, most organisations focus the majority of their resources into maintaining and improving their current business model and related support infrastructure.

In such circumstances, opportunities will always exist to reduce costs and accelerate strategic initiatives, and the key challenge is to optimise resources and productivity, and establish an effective mechanism to identify and exploit strategic opportunities.

The primary aim of this interactive course is to provide practical skills, techniques and greater confidence to enable you to plan, manage and deliver strategic cost optimisation programmes.

It will also refresh and improve your understanding of core cost and performance improvement techniques that will help your organisation to become more:

  • Agile to change and aligned to strategic objectives.
  • Cost effective, with leaner service levels, processes, functions and supply chains.
  • Manageable by service levels, both internally and externally.
  • Accountable, with greater visibility of management performance.
  • Focused in allocating budgets and project funding.
  • Transparent and auditable.

With these objectives in mind the course offers attendees guidance on how to address issues through a holistic approach. It also includes the following components:

  • Part 1: Strategic cost management challenges.
  • Part 2: Overview of cost management structures, processes and systems.
  • Part 3: Cost optimisation methodologies.
  • Part 4: Specific cost reduction initiatives.
  • Part 5: Conclusions.

Using examples and case studies the course initially provides an overview of techniques frequently used for performance management and financial control, highlighting their strengths and reasons why they can provide sub-optimal results and failures.

It then explains a structured methodology that should lead to optimal resource allocation and substantial efficiencies, highlighting how this has harnessed significant improvements in a range of industries, including media, financial services and retail distribution.

The course also examines how organisations can re-prioritise spending and effort towards the services that are of most strategic benefit, while ensuring that all costs are optimised.

In order to understand this idea we consider service levels – if they are fully understood and appropriate to each function of the business.

The setting of service levels is often undertaken in isolation in individual silos, rather than as a coherent strategy.

Learning outcomes will include: An enhanced capability to:

  • Control and optimise costs.
  • Lead cost optimisation initiatives.
  • Maximise the benefits from mergers and acquisitions.
  • Inspire change within your organisation.

Visit www.cimamastercourses.com/SCOM for more details about this and all CIMA Mastercourses.

Photo: Getty Images





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