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Strategic cost optimisation

Category: MASTER COURSE

A comprehensive approach to strategic cost management and cost optimisation, analysing how to plan, launch and manage a strategic cost management initiative to transform your organisation.

Cost optimisation not only increases profitability and stakeholder value, it also releases scarce resources that can be reinvested into new strategic initiatives.

The pace of delivering strategic objectives is often slow, hampered by resource shortages, conflicting priorities and the complexity of existing structures, processes and systems.  The larger and more sophisticated an organisation is, the greater will be the drag on implementing change within required timescales and costs.

Evidence shows that significant cost reductions normally occur through exploiting new technologies, processes and business practices.  However, most organisations focus the majority of their resources into maintaining and improving their current business model and related support infrastructure. In such circumstances, opportunities will always exist to reduce costs and accelerate strategic initiatives, the key challenge is to optimise resources productivity and establish an effective mechanism to identify and exploit strategic opportunities.

Who should attend?

  • Directors, senior executives, human resources and finance professionals involved in business performance improvement and post-acquisition integration.
  • Organisations that need to prepare their senior managers to undertake significant change initiatives, involving multiple functions, many managers and unions.

What you will gain
An enhanced capability to:

  • control and optimise costs
  • lead cost optimisation initiatives
  • maximise the benefits from mergers and acquisitions
  • inspire change within your organisation.

This course will explain ways to deliver cost optimisation and reprioritise resources towards strategic objectives. The primary objective of this interactive course is to provide practical skills, techniques and greater confidence to enable you to plan, manage and deliver strategic cost optimisation programmes.

Additionally, it will refresh and improve your understanding of core cost and performance improvement techniques that help your organisation to become more:

  • agile to change and aligned to strategic objectives
  • cost effective with leaner service levels, processes, functions and supply chains
  • manageable by service levels both internally and externally
  • accountable with greater visibility of management performance
  • focused in allocating budgets and project funding
  • transparent and auditable.

Programme outline

The course aims to:

  • refresh everyone’s knowledge of cost management techniques
  • differentiate between strategic, operational and tactical cost management
  • demonstrate an approach to carrying out an effective cost transformation programme
  • explore the linkages between strategy, functions, processes, management and budgets
  • identify common strategic cost reduction options and techniques
  • demonstrate a comprehensive strategic cost management approach
  • understand why tradition cost management approaches can fail to deliver results
  • highlight the impact of human behaviour on strategic decision making and financial control.

Part one: initiating strategic cost management projects

  • strategic change – the catalysts
  • initiating a strategic cost management programme – workgroup: plan of action; objectives and scope; initial fact find; board presentation
  • strategic information needs
  • leadership risks and mitigation
  • suggested framework for initiating a strategic cost management programme

Part two: cost management processes and techniques

  • big business that went bust
  • corporate governance
  • structures and processes
  • operational cost management techniques
  • cost drivers and performance measures
  • potential weaknesses of cost management techniques
  • common cost optimisation strategies

Part three: a strategic cost optimisation methodology

  • methodology overview
  • application of the methodology
  • mergers and acquisitions
  • programmes and projects

Part four: human factors

  • effective leadership 
  • reluctance to change
  • personal interests
  • passive and active resistance
  • methods of winning support

Part five: conclusions

  • differentiators between strategic and operational cost management
  • summary of key learning points

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

Strategic cost optimisation

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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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.

Find out more 
If you have any queries please email cima@bpp.com 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: https://www.bpp.com/professional-education/privacy

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

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