Course description
By the conclusion of the specified learning and development activities, delegates will be able to: Ø Demonstrate an exceptional ability in planning.Ø Define planningØ Prepare a plan incorporating all the necessary requirements.Ø Explain the concept of informal plan.Ø Know the different purposes of planning.Ø Classify plan.Ø Identify the various contingency factors in planning to prepare their organisation for any unforeseen or unexpected circumstances.Ø Know the characteristics of planning.Ø Discuss in proper order the steps in planning.Ø Establish the relationship between planning and organisational control.Ø Discuss the various components of operation management. Ø Part 2: Types of Plan By the conclusion of the specified learning and development activities, delegates will be able to:Ø Know the concept of, and prepare a tactical plan for their organisation.Ø Draft a strategic plan for their organisation incorporating therein the key components.Ø Discuss the underlying concepts of Strategic planning.Ø Use the different strategic planning tools in preparing their organisation’s strategic plan.Ø Illustrate the strategic planning process.Ø Undertake tests to check the quality of their organisation’s strategic plan.Ø Know the right period for doing strategic planning.Ø Draft an operational or business plan for their organisation.Ø Differentiate between standing and single-use plan.Ø Determine the issues involved in operational plan.Ø Distinguish between strategic planning and operational/business planning.Ø Distinguish between strategic planning and tactical planning. Ø Part 3: Planning Strategies, Cycle and Outline By the conclusion of the specified learning and development activities, delegates will be able to:Ø Adopt different strategies in drafting a plan.Ø Explain and illustrate the planning cycle.Ø Follow the steps in planning cycle.Ø Realise the importance of setting objectives in the preparation of the plan.Ø Draft a plan outline. Ø Part 4: Overview of Budgeting By the conclusion of the specified learning and development activities, delegates will be able to:Ø Demonstrate an exceptional ability in budgeting.Ø Realize how proper budgeting can help their management to keep in track with the financial transaction and to manage the finance of their organisation for its future growth and development by knowing the basic concept of budget and budgeting.Ø Know the two primary functions of budgeting.Ø Identify the benefits of proper budgeting towards the success of their organisation.Ø Cite the classification of budgets and distinguish one from the other.Ø Enumerate the different types of budget.Ø Avoid common traps associated with budgeting.Ø Develop ways to avoid damage caused by ineffective budgeting.Ø Suggest ways on how to prevent budgeting overkill.Ø Know the different strategies in making a good budget plan.Ø Establish how proper budgeting and forecasting will lead in the preparation of a good plan.Ø Ascertain the relationship between budgeting and management for the proper coordination of organisational activities.Ø Prepare an efficient budget plan by knowing the principles and procedures for successful budgetingØ Specify the role of budgeting in the planning and communication process.Ø Understand the nature and purpose of budgets for planning and control.Ø Ascertain how budgetary control helps in monitoring revenue and expense levels in operating activities. Ø Learn how variance analysis helps management to understand the present costs and how to control the future costs.Ø Know how the different responsibility centres promote effective financial control.Ø Report a budget segment internally and externally. Ø Part 5: Different Approaches to Budgeting By the conclusion of the specified learning and development activities, delegates will be able to:Ø Distinguish between fixed and flexed budget.Ø Know the principles of a rolling budget.Ø Explain the underlying concept of zero-based budgeting and its advantages and disadvantages.Ø Differentiate traditional-based budgeting and zero based budgeting.Ø Give comments on the criticisms in zero-based budgeting.Ø Determine how zero-based budgeting may assist in budgeting, planning and controlØ Understand and explain the concept of Activity Based Budgeting (ABB).Ø Appreciate the importance of ABB towards creating accurate forecast for the organisation.Ø Enumerate the financial and organisational benefits of ABB.Ø Establish the relationship of ABB to operational planning and portfolio managementØ Prepare a master budget for their organisation.Ø Explain the underlying concept of paradigm-based budgeting, process-based budgeting, priority-based budgeting and performance-based budgeting and differentiate one form the other.Ø Develop ways for innovative budgeting in credit crunch and economic recession. Ø Part 6: Nature and Behaviour of Cost and the Budget Preparation Process By the conclusion of the specified learning and development activities, delegates will be able to:Ø Analyse how cost behaviour influences forecasting and budget plan creation.Ø Distinguish fixed, variable costs and mixed costs.Ø Design an activity-based costing model in estimating the cost elements of the organisation’s products or services.Ø Know the different components of operating budget.Ø Explain the concept of project and variable budget.Ø Know the underlying concept of management by objectives.Ø Prepare/Draft an operating budget plan for the continued operation of their organisation at current levels.Ø Prepare/Draft a financial plan for the proper allocation of future income to various types of expenses.
