Effective Cost Management to Achieve Win-Win Positions

22 Nov, 2018, Kuala Lumpur

FOCUSING ON
  • Aligning Cost Management With Organisation’s Vision And Mission
  • Identifying Areas Requiring Better Cost Management
  • Some Potential Solutions And Alternatives To Consider
  • Achieving Win-Win Positions
  • What To Look Out For - Best Practices And Common Pitfalls
OBJECTIVE

In today’s changing business landscape and volatile economic environment, cost management invariably involves cost control and/or cost cutting measures which can pose a varied number of challenges for organisations. If not carefully managed, they can easily lead to low office morale and poor business perceptions, sometimes heightened by unhappy employees.

 

This case study approach course is designed specifically to help leaders, managers and executives with financial management responsibilities to navigate cost management with an aim to achieving win-win positions for both the business and its people.

 

The course is also suitable for teams involved in financial and accounts management including executives from supporting departments who are involved in cost control and/or cost reduction initiatives or projects.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB...
  1. Appreciating the need for a holistic approach to cost management.
  2. Understanding the overarching objective involved in achieving effective cost management.
  3. Identifying areas for better cost management.
  4. Adding value in strategizing on cost control or cost reduction projects.
  5. Appreciating some potential solutions and certain alternatives in managing cost.
  6. Understanding how to identify best practices and common pitfalls in effective cost management.
LEARN FROM THE BEST

REBECCA CHIN has more than 20 years of professional services experience in leading global organizations. She is a qualified Chartered Accountant and a Master’s Degree holder with first-hand expertise in helping to manage a multi-million-dollar business, covering a wide range of business and management areas.

 

As a COO for 10 years, Rebecca brings participants a wealth of practical financial and business management experiences in delivering this course. Her wide range of professional skills have been honed from experiences gained across diverse economies in the Asia Pacific region.

 

Rebecca has successfully conducted training courses and workshops on various topics which were well received by past participants. Combining a selection of practical hands-on training and coaching methods in lively interactive sessions, participants will benefit from their attendance.

 

Rebecca is a member of the Malaysian Institute of Accountants and a Certified Practising Accountant with CPA Australia.

 
COURSE CONTENT
9:00 ALIGNING COST MANAGEMENT WITH ORGANISATION’S VISION AND MISSION
  • Cost control, cost reduction
  • Understanding overarching objective
  • Finding an alignment angle
  • Case study discussion
10:45 IDENTIFYING AREAS REQUIRING BETTER COST MANAGEMENT
  • Discuss methods of cost control
  • Applying the 80/20 rule to cost reduction initiatives
  • Value vs volume
  • Some common areas
  • Case study discussion
12:00 SOME POTENTIAL SOLUTIONS AND ALTERNATIVES TO CONSIDER
  • Identifying what’s practical and workable
  • Outsourcing
1:00 Lunch

2:00 SOME POTENTIAL SOLUTIONS AND ALTERNATIVES TO CONSIDER (cont.)
  • Shared services
  • Automation
  • People efficiency
  • Standardising processes and procedures
  • Case study discussion
3:00 ACHIEVING WIN-WIN POSITIONS
  • Applying change management to cost control or cost reduction initiatives/projects
  • Is there a need for clarity and transparency?
  • How much communication is appropriate?
  • Impact on outcomes
  • Case study discussion
4:00 WHAT TO LOOK OUT FOR - BEST PRACTICES AND COMMON PITFALLS
  • Methods of managing cost control
  • Hidden budget variances
  • Dealing with changing landscape and circumstances
  • Identifying best practices and common pitfalls
  • Case study discussion
5:00 End of Course
WHO SHOULD ATTEND
Financial Controllers, Cost Controllers, Management Accounting Leaders/Managers/Executives, Accountants, Account Executives, Business Owners/Managers, Executives responsible or involved in cost control or cost reduction projects/initiatives, anyone with an interest to understand how to achieve win-win positions when managing cost.
METHODOLOGY
Interactive course with Case Studies and Group Discussions


 

LEARN FROM THE BEST

REBECCA CHIN has more than 20 years of professional services experience in leading global organizations. She is a qualified Chartered Accountant and a Master’s Degree holder with first-hand expertise in helping to manage a multi-million-dollar business, covering a wide range of business and management areas.

 

As a COO for 10 years, Rebecca brings participants a wealth of practical financial and business management experiences in delivering this course. Her wide range of professional skills have been honed from experiences gained across diverse economies in the Asia Pacific region.

 

Rebecca has successfully conducted training courses and workshops on various topics which were well received by past participants. Combining a selection of practical hands-on training and coaching methods in lively interactive sessions, participants will benefit from their attendance.

 

Rebecca is a member of the Malaysian Institute of Accountants and a Certified Practising Accountant with CPA Australia.

 

VENUE DETAILS

Vistana Kuala Lumpur
9 Jalan Lumut Off Jalan Ipoh
50400 Kuala Lumpur

Phone :03 4042 8000

 

IPA TRAINING IS REGISTERED WITH

 

CONTACT US

Juliany, 
O - 03 2283 6109,
M - 019 3134436
juliany@ipa.com.my 

Michelle, 
O - 03 2283 6100, 
M - 019 363 7822
michelle@ipa.com.my 

For Customised In-House Training
Yvonne,
O - 03 2283 6101, 
M - 012 2011247,

F - 03 2283 6108
 
yvonne@ipa.com.my
 

ADDRESS 

A-28-5, 28th Floor, 
Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my