An Interactive 10-Day Training Course
Financial Planning and Budgeting for Performance Management
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Modules
This training course is split into these modules:
Module I - Budgeting For Performance Management
Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking these Modules back-to-back as a "number of weeks" training course.
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
Training Outline
Module 1: Budgeting For Performance Management
DAY 1: Budgeting and Business Performance Management
- Creating value for key organisational stakeholders
- Business Performance Management (BPM) frameworks
- The fundamentals of competitive strategy
- The vital role of budgeting and cost management in BPM
- Principles of financial and management accounting
- Key financial measures of value creation
- Using strategy maps to integrate non-financial measures
DAY 2: Cost Planning and Cost Management
- Defining and understanding cost behaviour
- The role of costing in performance management
- Traditional costing: absorption costing
- Traditional costing: marginal costing and break-even analysis
- Traditional costing: standard costing control frameworks
- Developments in costing: Target and Kaizen costing
- Developments in costing: Activity Based Costing (ABC)
- A strategic approach to cost management and reduction
DAY 3: Steps and Techniques in Budget Preparation
- Forecasting techniques for budgeting
- Business Intelligence and budgeting
- Diagnostic and predictive analytics for budgeting
- Statistical tools and techniques in sales forecasting
- Statistical tools and techniques for cost forecasting
- Steps in the budgeting process
- Budgeting and managing capital expenditure (CapEx)
- Cash flow forecasting and budgeting
- Styles and approaches to budgeting
- Human and behavioural aspects of budgeting
DAY 4: Using Budgets to Monitor and Manage Performance
- Principles of Responsibility Accounting
- Variance analysis and performance management
- Standard costing and cost management
- Using data analytics to find the root cause of variances
- Data visualisation techniques for financial reports
- Designing budget reports
- Dashboards and their use in performance management
- Designing tactical dashboards for budget management
DAY 5: Beyond Budgeting to Adaptive Management
- Shortcomings of traditional approaches to budgeting
- Beyond Budgeting case study
- Moving towards decentralised performance management
- Replacing budgets with rolling forecasts
- Using key driver forecasts for risk management
- Using balanced scorecard to manage Key Performance Indicators
- Why traditional budgeting still has a key role to play
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