In today’s changing business conditions, there is a need for all functional or business heads to understand, ascertain and implement cost reduction strategies. Businesses that don’t control their costs don’t stay in business.

• How well are you doing? 
• Is everyone in your organisation sufficiently aware of costs, managing them effectively and maximising opportunities to reduce them?

If there is scope for improvement, this course will help get you back on track. It will demonstrate that cost reduction is so much more than cost control and cost cutting. True cost management is about being aware of costs, seeking to reduce them through good design and efficient operating practices whilst taking continuing action on overspending.

Date & Time: 

16 June, 2020 (Tuesday) - 2:00pm – 5:30pm

17 June, 2020 (Wednesday) - 2:00pm – 5:30pm

Target Audience:

Professionals, Senior Managers, Managers, Senior & Junior Executives who had profit center responsibilities and all levels of employees who assist and implement cost reduction

Objective:

• Being aware of costs at all times.
• Seeking cost reduction from the start (including life-cycle costing)
• Understanding real budgeting techniques such as Activity Based Costing (ABC). 
• Ensuring cost reports lead to action
• Managing a cost reduction process that delivers

Content:

MODULE 1: INTRODUCTION – THE COST MANAGEMENT PROCESS

• The risks of poor cost control
• Capital and revenue costs
• The importance of cost awareness
• The importance of cost reduction
• Cost management – the key aspects
• How to build a cost management and control process checklist for your areas of responsibility

MODULE 2: COST REMOVAL – TAKING OUT COSTS

• Cost awareness
• Costs of poor design / poor processes
• Value engineering
• Removing redundant costs
• Cost reduction culture
• The need for cost reports
• What measures can be used to identify over-spends as early as possible
• Cost control performance measures and ratios.

MODULE 3: COST MANAGEMENT: VARIANCE ANALYSIS TOOL

• Understanding essentials of variance analysis & how variances are calculated in cost management
• What causes cost variances?

MODULE 4: COST REDUCTION PROCESS IMPACT TO THE PROFITABILITY 

• Understanding of cost
• Cost element classification
• Value Costing
• Costing methods and structure
• Identify firm’s cost drivers in Activity Based Costing (ABC)
• Different types of cost – fixed, variable
• Application to cost reduction strategies

SPECIAL PROMOTION OF RM 126.20 PER PAX!!!

Should you have any inquiry or require any assistance, do reach us at  012-2382472 or email us at [email protected].

1. Ticket sold are not refundable.

2. One ticket is entitled to one participant, ticket sold are not transferable or change to other date/ training courses.

3. No replacement slot for missed out the date.

4. Online training link will be send out 1 day prior event date.

5. The organizer reserves the right to make changes to the information without notification.

6. All participants will receive a Certification of Attendance.