06 December 2021

Driving down costs


A toolkit of key ideas and cost management strategies, frameworks for analysing cost and practical techniques for implementing cost reduction.

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

What you will gain
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. 

Programme outline

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


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

The course starts at 9.30am. Lunch and refreshments are included.

6 CPD hours (where applicable). 

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
6 December 2021 - 09:30 London Price: GBP 634.00
Member price: £571. Plus VAT on all prices.

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Driving down costs

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

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If you have any queries please email or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at:

The information provided to BPP will not be used by BPP for marketing purposes.

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