Strategic Cost Management

All companies including financial Service companies around the world are facing pressure to reduce costs and improve profitability.  The focus is on pursuing ways to operate more efficiently and effectively. This is not only due to deteriorating market conditions and pressure from shareholders, but also to the need to satisfy ever-increasing customer expectations with improved service quality.

In order for companies and financial institutions to restore profitability as economy rebounds, companies ought to recognise the need to be strategic with cost reduction efforts and be aggressive in the pursuit of this goal. By balancing short-term, tactical cost reduction initiatives with longer-term, sustainable cost management programs, Institutions can work to achieve cost reductions of 15 per cent to 30 per cent. The paradigm of long-term cost base optimisation without jeopardising or even reducing service quality requires a holistic approach to strategic cost management. 

This three day course is designed to equip all Staff involved in the strategic planning process with the tools and know how to achieve this objective.

Course Objectives

At the end of the course, participants will be able to:

  • Define, measure, manage and assign relevant costs and indirect costs
  • Use analytical tools, such as activity-based costing, customer profitability analysis and strategic profitability analysis in assessing the performance of an organization with respect to its strategy
  • Conduct, analyse and recommend on value chain analysis
  • Understand the rationale behind business process reengineering and how it relates to an entity’s strategy
  • Analyse and evaluate the impact of activity-based management on strategic planning
  • Understand and describe the relationship between product pricing, costs and quality
  • Understand and evaluate the strategic management behind capital expenditures
  • Analyse information within different decision frameworks such as planning, control and performance measurement and evaluation
  • Balance tough cost management with core values, team motivation and growth.

Who Should Attend

This course will benefit:

  • Finance Directors/CFOs ,General Managers/ Head of Departments
  • Divisional Heads
  • Financial Controllers and Senior Cost Controllers
  • Finance Managers and Operations  Managers
  • Auditors and Internal Control
  • Accountants and Consultants

Course Outline 

  • Overview of Strategic Management
  • Organisational Cost reduction program 
  • perating Cost Analysis: Case Study – "Financing gridlock"
  • Activity Based Management 
  • Customer Profitability: 
  • Operational Excellence (OE): 
  • Outsourcing   

Location                          Pricing (Ex. VAT)                        Dates

Nigeria                              N205,000                                    10th - 12th October 2016