Course Duration:
5 days.
Course Description:
Faced with a competitive market with virtually no price advantage, the only to succeed and survive is by managing costs. Cost management brings with it a trap wherein, the managers fail to identify the costs that can be controlled without harming the bottom line. This training will enable participants to develop an in-depth understanding of the components and behavior of cost leading, to the introduction of contemporary tools for achieving cost reduction targets. This program covers cost management and strategic decisions, components of cost, cost accumulation and reporting, cost accumulation methods, cost reports, and decision-making.
Learning Outcomes:
At the end of the training, the participant will be able to:
- Understand the tools and techniques in cost control for effective decision-making;
- Understand the nature and behavior of costs and be able to link them with budgeting; and
- Implement a cost management system by applying the right tools and techniques.
