Strategic Cost & Performance Management
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The paradigm shift from cost accounting and control to strategic cost management and performance management has become imperative for organisations in today’s times ‐ where cost leadership and performance management is a vital strategy. In this scenario managing costs strategically and monitoring and controlling performance is clearly important for the long term sustainability of organisations.
In an increasingly competitive environment ‐ which today spans beyond national boundaries ‐ a key critical success factor is effective cost management by business enterprises. In this context, there is a need for practising managers to update their knowledge and skills to enable them to improve the effectiveness of their cost management initiatives. The objective of the programme is to provide necessary skills to participants which can be easily adapted to their work environment. Understanding costs, using it for planning (budgeting), pricing, cross functional decision making as also for cost management is a key requirement. This programme will provide a succinct introduction to these vital issues. In addition, performance management, is becoming a vital initiative – given the enhanced competitiveness of markets in the face of unpredictable and volatile environment.
The programme will cover the following broad areas:
- Overview of cost management issues
- Activity based costing and management (ABC & ABM)
- Relevant costing for managerial decision making
- Standard Costing, Budgeting & Variance Analysis
- Divisional Performance measurement including Transfer Pricing
- Life Cycle Costing & Target Costing
- Performance Evaluation & Management
- Balanced Scorecard
- Beyond Budgeting
Who should attend
This programme is targeted to Managers with a minimum of 5 years professional experience from different functional areas that possess a basic knowledge of accounting and finance.