Budgeting, Forecasting & Cost Control

Introduction

This course develops skills to plan, monitor, and control budgets effectively within large-scale operational and capital projects.

Objectives

• Prepare and manage budgets
• Improve forecasting accuracy
• Control operational and capital costs
• Strengthen financial discipline

Target Audience

• Managers and supervisors
• Planning and budgeting staff
• Project and operations leaders

5-Day Scientific Program

Day 1

• Budgeting principles and objectives
• Types of budgets
• Budget cycles and governance
• Cost ownership

Day 2

• Forecasting techniques
• Assumptions and risk factors
• Variance analysis
• Forecast updates

Day 3

• Cost control methodologies
• Cost tracking and reporting
• Deviation management
• Corrective actions

Day 4

• Capital vs operational expenditure
• Cost optimization strategies
• Managing uncertainty
• Financial controls

Day 5

• Budget review simulations
• Lessons learned
• Cost control best practices
• Budget management action plan