📊 Cost Management Training Course

Overview

📝 Course Description

The Cost Management Training Course is designed to equip finance, operations, and project professionals with the tools and techniques required to plan, control, analyze, and reduce costs effectively across projects and business operations. The course blends financial theory, strategic planning, and practical tools such as cost-volume-profit analysis, budgeting, cost estimation, and performance measurement.

By the end of the training, participants will be proficient in applying cost control principles aligned with organizational objectives, maximizing value while maintaining fiscal discipline.

🎯 Learning Objectives

By the end of the course, participants will be able to:

Understand and apply modern cost management principles and techniques
Prepare and analyze various types of budgets (zero-based, rolling, activity-based)
Identify cost drivers and develop cost reduction strategies
Implement cost control and monitoring mechanisms in operations and projects
Utilize variance analysis and performance metrics for decision-making
Integrate cost management with strategic planning and value creation

👥 Who Should Attend

Financial Controllers, Accountants, and Budget Officers
Cost Engineers and Project Control Professionals
Project Managers and Operations Managers
Business Analysts and Strategic Planners
Anyone involved in budgeting, forecasting, and financial planning

🧠 Training Methodology

Instructor-led lectures
Group case studies and cost modeling exercises
Practical hands-on examples and calculations
Excel-based simulations and templates
Class discussions and benchmarking

📆 5-Day Agenda with Time Breakdown

📘 Day 1: Introduction to Cost Management

Time	Topic
08:30–09:00	Registration & Welcome
09:00–10:30	Fundamentals of Cost Management & Cost Types
10:30–10:45	☕ Coffee Break
10:45–12:15	Cost Classifications: Fixed, Variable, Direct, Indirect
12:15–13:15	🍽️ Lunch
13:15–14:45	Cost Accounting vs. Financial Accounting
14:45–15:00	☕ Coffee Break
15:00–16:30	Case Study: Identifying and Classifying Costs

📗 Day 2: Budgeting Techniques and Forecasting

Time	Topic
08:30–10:00	Budgeting Principles and Processes
10:00–10:15	☕ Coffee Break
10:15–12:15	Activity-Based Budgeting (ABB), Zero-Based Budgeting (ZBB)
12:15–13:15	🍽️ Lunch
13:15–14:45	Rolling Forecasts and Scenario Planning
14:45–15:00	☕ Coffee Break
15:00–16:30	Workshop: Building a Budget Using Excel

📙 Day 3: Cost Estimation and Allocation

Time	Topic
08:30–10:00	Cost Estimation Techniques (Parametric, Bottom-Up)
10:00–10:15	☕ Coffee Break
10:15–12:15	Cost Allocation Methods (Job Order, Process Costing)
12:15–13:15	🍽️ Lunch
13:15–14:45	Absorption vs. Marginal Costing
14:45–15:00	☕ Coffee Break
15:00–16:30	Cost Driver Analysis and Value Stream Mapping

📕 Day 4: Cost Control, Variance Analysis, and KPIs

Time	Topic
08:30–10:00	Cost Control Strategies and Process Integration
10:00–10:15	☕ Coffee Break
10:15–12:15	Variance Analysis (Price, Efficiency, Volume)
12:15–13:15	🍽️ Lunch
13:15–14:45	Cost Monitoring Tools and KPIs
14:45–15:00	☕ Coffee Break
15:00–16:30	Workshop: Cost Control Dashboards in Excel

📒 Day 5: Strategic Cost Management and Value Creation

Time	Topic
08:30–10:00	Strategic Cost Management and Competitive Advantage
10:00–10:15	☕ Coffee Break
10:15–12:15	Target Costing, Life-Cycle Costing, and Kaizen Costing
12:15–13:15	🍽️ Lunch
13:15–14:45	Lean Thinking and Cost Reduction Programs
14:45–15:00	☕ Coffee Break
15:00–16:30	Final Group Exercise & Certification Ceremony

📁 Course Materials

Digital workbook and reference slides
Excel budget and cost templates
Real-world case studies
Access to post-training online Q&A group
Certificate of Completion

Target audiences

Reservoir Engineers, Geologists

$ 5,800