Driving Down Costs

Pricing

Cost for BPP PD Members: £435 + VAT 6 CPD Hours
(£624.00 + VAT for non BPP PD Members Click Here for details of our membership scheme).

Delegates

Finance and business managers with responsibility for day-to-day cost management and for leading transformative cost savings programmes.

Learning Objectives

Finance managers are often the controllers of daily operational spending, helping to set the cost-conscious tone of the business. Ever increasing economic and competitive pressures on businesses trigger a strategic challenge to existing business models and finance is often the natural leader of cost structure reviews and transformations.

This programme will provide finance managers and their business colleagues with a take-away of practical frameworks and supporting tools to help take out unnecessary cost and keep it out. The day will include identification of real-life barriers and frustrations for finance managers trying to better lead on costs and how to overcome them. Delegates will be able to interact with cases, surveys and discussion to share their experience and learning.

Management tools such as ‘activity-based costing’, ‘zero-based budgeting’, and ‘lean management’ are enjoying a renaissance as tools to support a rigorous approach to cost and the programme will also provide the latest thinking on these tools.

Course Content

Introduction and the importance of driving down costs

  • Introduction and the challenge to business to hold down and cut costs
  • Features of ongoing cost management and typical short-term cost saving exercises
  • Features of successful, value adding, cost savings initiatives and the need for a leadership approach to ‘take cost out’
  • Review of cost saving programmes in selected commercial organisations
  • Leading a cost transformation - to take cost out

  • An approach to leading a cost transformation based ‘change’ initiative: ‘seeing, wanting, allowing, targeting’
  • Setting an appropriate target and measuring savings success
  • Introduction to leading models on cost management, such as CGMA ‘cost transformation model’, and PwC ‘fit for growth’ framework
  • Re-basing the business using ‘zero based budgets’ style approach
  • Holding back cost whilst growing

  • Analysis of risk and costs in typical business growth initiatives and the use of project board disciplines
  • Holding back cost in new product development and manufacturing process design
  • The benefits of excellence in working capital and asset management
  • Identifying wasted cost in commercial functions

  • Identifying wasted cost through product and customer portfolio optimization and better targeting of marketing spend
  • Applying understanding of cost drivers and cost allocation methods, such as ‘activity-based costing’
  • Introducing the latest marketing spend analytics models
  • Cost transformation in finance and ‘support’ functions

  • Putting our ‘own house’ in order, providing a model of excellence to the business
  • Applying ‘lean management’ techniques to a support function
  • Centralisation, process standardisation, digital automation and outsourcing to save costs, including some of the pitfalls
  • Building a sustainable cost-conscious culture – to keep cost out

  • The features of a continually improving cost conscious culture to ‘keep cost out’
  • Review of tensions between finance functions and the business in cost management identifying how finance, as a value adding business partner, can overcome negative perceptions when managing cost
  • Conclusion

  • Pulling together the role of finance in leading the business through a cost transformation
  • Next Steps Action Planning

  • "A CPD certificate of completion will be provided by BPP Professional Education Limited upon request, following attendance."


    Course Dates

    Location Dates Time Availability  
    London 13 Nov 2018 9:30 AM - 5:00 PM  Spaces Book Now
    London 24 May 2019 9:30 AM - 5:00 PM  Spaces Book Now
    London 22 Nov 2019 9:30 AM - 5:00 PM  Spaces Book Now

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