Managing a Budget Training

  • Learn via: Classroom / Virtual Classroom / Online
  • Duration: 1 Day
  • Download PDF
  • We can host this training at your preferred location. Contact us!
Upcoming Training

29 March 2021

1 Day

In a recent Ernst and Young Survey of 669 UK / European companies, 65% stated that the main business priority was ‘managing costs’; closely followed by (57%) ‘improving financial controls’.

Managers today are increasingly expected to understand and manage the finances in their area and are often asked questions about what the impact would be if costs were cut by X%, sales increased by X%, or what the impact would be if core hours were extended. Every decision involves finance and to respond effectively whoever is responsible for the budget must understand the cost structure of the business area.

It's essential for any organisation to understand and control its expenditure and revenue, routinely monitoring this to deliver its strategy by achieving performance objectives.

To do this, organisations, departments and projects gather a range of information from internal and external sources and create budgets. They then monitor performance against the budget, understanding what’s happening and why, and making recommendations to correct unfavourable variances.

Common concerns we hear from people who attend this course include:

  • I was thrown in at the deep end and handed budget responsibility after a meeting
  • I’ve never managed a budget before
  • I’ve been asked to lead a project but don’t have any experience in budgets
  • How do I track expenditure after the budget is signed-off?

This Develop-level workshop will develop your knowledge and understanding of costs and budgeting techniques and equip you with the knowledge to both create and manage your budgets. You’ll get practice, using a number of case studies across the day.

All of our trainers are experts in their field and have many years’ experience in managing budgets.

Target audience

This Develop-level course is aimed at anyone who’s managing a budget or feels they’d benefit from a greater understanding of budgets. It is relevant to anyone:

  • Managing a budget
  • Managing projects
  • Running a cost-centre
  • Engaging in discussions with a finance department

The course assumes that you have a basic understanding of organisational finance and terminology, so if you need to understand the basics first, please consider attending our one-day Finance Essentials course (MPDFE). If you’re looking for more comprehensive and in-depth training in finance, try our two-day Finance for Non-Finance Managers course (MPDFNFM).

There are no pre-requisites for this course.

  • Explain what a budget is and its role in the delivery of strategic objectives
  • Identify he different approaches to preparing a budget
  • Develop a structured approach to preparing a budget
  • Explain cost behaviour
  • Prepare a budget
  • Explain how to present a budget to stakeholders
  • Manage a budget, investigate variances and take corrective action

1. What is a budget?

  • Roles of a budget
  • Types of budget
  • Budgets and objectives

2. Preparing a budget

  • Approaches to building a budget
  • Activity-based budgeting
  • Top-down or bottom-up
  • Classification of costs
  • Case study 1

3. Presenting a budget

  • The role of the Budget Committee
  • Presentation considerations

4. Managing a budget

  • Case study 2
  • Variance investigation and reporting

Contact us for more detail about our trainings and for all other enquiries!

Blog posts related to Managing a Budget Training


Are you aware of 2020's Project Management trends? If not, you are in the right place! Read our article "2020 Project Management Trends" to find out

Upcoming Trainings

Join our public courses in our Istanbul, London and Ankara facilities. Private class trainings will be organized at the location of your preference, according to your schedule.

29 March 2021

1 Day

Istanbul, Ankara, London
Istanbul, Ankara, London

Related Trainings

Finance for Non-Financial Managers

'Rule No.1: never lose money. Rule No.2: never forget rule No.1.' Warren Buffett – Ameri...

  • Classroom
  • Virtual Classroom
  • Online

2 Day

Finance Essentials

In a recent Ernst and Young Survey of 669 UK / European companies, 65% stated that the main busine...

  • Classroom
  • Virtual Classroom
  • Online

1 Day