Day 1:
Foundations of Financial Budgeting
Overview of financial budgeting principles and terminology.
Understanding the role of budgets in strategic planning.
Key components of a comprehensive budget framework.
Case study analysis: Lessons from successful budget implementations.
Day 2:
Estimation Techniques and Tools
Introduction to cost estimation methodologies (e.g., parametric, analogous).
Leveraging historical data for accurate forecasting.
Hands-on workshop: Building an estimation model.
Common pitfalls in estimation and how to avoid them.
Day 3:
Cost Control Strategies
Identifying and analyzing cost drivers.
Implementing variance analysis to track performance.
Best practices for managing scope changes and contingencies.
Group exercise: Developing a cost-control plan.
Day 4:
Advanced Monitoring and Reporting
Introduction to Earned Value Management (EVM).
Designing dashboards and KPIs for financial tracking.
Ensuring transparency and accountability in reporting.
Real-world example: Using EVM to rescue a failing project.
Day 5:
Compliance and Digital Transformation
Navigating regulatory requirements in financial management.
Integrating AI and automation into budgeting processes.
Ethical considerations in financial decision-making.
Final capstone project: Presenting a financial management strategy.
