Who should attend
Everyone who is involved in strategic planning, forecasting, budgeting, reporting & measurements, to include:
- Senior executives
- Financial Professionals, Finance Controllers & Treasurers
- Operating and Inventory Professionals
- Any Professional, at a medium and senior level, who is a part of the decision making team
- New interns and trainees with any of the above related responsibilities
About the course
What most programs fail to do is link the various segments of the planning and implementation process of business. This program is different. You start with strategic planning to determine what direction the firm should take. Then you will develop a workable forecast based on your assumptions; move onto results focused budgeting from this forecast; then use the “what-if” tools based in Excel© to “test” you budget; and finally develop reports of the results for accountability. This program gives the delegates real tools that value their firm.
## Course Objectives
- You will be able to further your professional skills
- You will be able to make more informed and hence better corporate decisions
- You will walk away with a comprehensive planning to implementation tool
- You will be better placed to contribute to the overall success of your organization
- You can teach your peers your new skills
- The participants will become more aware of the importance of links between these critical areas
- New skills of integration management will help to make more informed and hence better management decisions
- Exposure to different techniques will help the company to efficiently collect and use the most critical data
- Forecasting of cash flows will help the company in its day-to-day and long-range plans
- The knowledge gained can be shared amongst other departments of the company
## Course Outline
What is strategic planning & why do it
Limitations of strategic planning
Specific problems associated with strategic planning
Assessment tools including SWOT, Porter’s 5-forces, GE & BCG models
Developing the plan & strategic objectives
Mapping your strategy
Strategic Planning Process Flowchart
Why we have to plan before we forecast
Introduction to Forecasting
What is forecasting?
Strategic role of forecasting
The forecasting process
Sales forecasting using various methods in Excel© (LINEST, LOGEST, etc)
Qualitative Forecasting models
- Market surveys, Delphi, Life cycle analogy, Expert opinions, Sales force polling
Quantitative Forecasting models
How the FORECAST, GROWTH & TREND Functions in Excel© simplify the forecasting process
The Components of a Time Series
Day Three: “What-if” analysis
What is Scenario Analysis?
What is Sensitivity Analysis?
What is Simulation Analysis?
What is Optimization?
How to develop random numbers using Excel©
How to use Goal Seek in Excel©
How to use Solver in Excel©
Budgeting and the Management Process
What is a budget?
Why & how is it different from a forecast?
Budgets - the financial expression of the operating plan
The purpose of budgets – planning & control
Advantages and limitations of budgets
The Framework for Budgeting
Elements of the budget framework
Types of budgets: flexible, zero-based, static
The pro forma financial statements
Operating versus non-operating revenue
Listing of major budgeting software
How to evaluate budgeting software
Budgeting Costs and Expenses
Operating expenses - selling, G&A, R&D
Direct variable expenses
Indirect Fixed expenses
Assignable and non-assignable expenses
Reporting & Meaningful Measurements
Calculating different types of related variances
Performance measurement as a linking and integrating tool
The Balanced Scorecard
Learning & growth
Internal – managerial
External – financial & regulatory
Linking it together
Linking strategic planning, forecasting budgeting and reporting
Reporting and performance analysis
Videos and materials
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.