Aligning Budgeting with Strategy

Aligning Budgeting With Strategy

ILM endorsed programme 7 – 10 October 2012 Jumeirah Emirates Towers Hotel, Dubai, UAE

Increase your competitive advantage Use management tools and techniques to support strategic management Incorporate budgeting into your organisation’s overall planning process Apply modern budgeting techniques Support strategic cost management Benefit from implementing rolling forecasts Take advantage of the ‘Beyond Budgeting’ model and other new developments in budgeting Understand how budget monitoring can fit in with business performance measurement

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About ILM The Institute of Leadership and Management (ILM) is the UK’s largest awarding body for leadership and management qualifications. ILM partners with over 2,000 ILM-approved centres, comprising of private training providers, further and higher education colleges, and employers delivering in-house management training.

When you register for an IIRME/ILM Endorsed Programme you can be sure that it is: 1. Practically based, and will complement your role at work 2. Expertly designed to meet the needs of leaders and managers across all business sectors 3. Supported by comprehensive learning resources 4. Externally recognised as a high quality programme Bonus: every learner registered on any type of ILM programme is automatically entitled to a six months of studying membership with ILM which brings a terrific range of benefits.

For full details of the benefits of studying membership please visit www.i-l-m. com/learn-with-ilm/371.aspx or email ilmcourses@iirme.com

Tel: +971 4 335 2437

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Who Should Attend?

Course Overview

Delegates should preferably have at least a basic knowledge of the fundamentals of business planning and budgeting. Typically you are likely to be at supervisory / junior management levels.

The course is not aimed at providing a basic “essentials” introduction to these management tools.

Budgeting should be one of the tools used to control costs and deploy resources more effectively so that, as a financial controller, you can be an active participant in your organisation’s strategic planning and ultimately achieve operational excellence. This unique management training course is designed for managers who seek improvement in the management of both their organisation’s business strategy and budgeting, and who recognise the business benefits that can be achieved from such an approach. At the end of the course you will be able to decide which techniques will be most beneficial for your organisation and you will also have the practical knowledge to implement them immediately.

The programme is carefully designed to help you return to your organisation and implement improvements in the alignment of business strategy and financial budgets – widely recognised as being a notorious weak link in the wider ambition of successful strategy execution.

The very clear focus of the event is to support tangible business improvement. You should have the capability and seniority to return to your organisation and pragmatically implement such improvements (with management approval, if appropriate).

Your Expert Course Leader Alan Fell, Director, Alan Fell Consultancy Ltd., is a highly experienced UK-based international specialist in strategic performance management who has spent more than 30 years involved in a wide range of performance management disciplines – both in policy formulation and practical application roles. He covers a breadth of closely related topics from strategic planning and strategic execution through to detailed budgeting. The alignment of strategy and budgeting is widely recognised as a key requirement for successful strategy execution.

For the last 15 years Alan has operated as an independent management consultant and trainer specialising in a range of performance management programmes. Prior to that he was a senior executive with a major UK bank.

The majority of Alan’s work is now undertaken internationally, especially in the Middle East/Gulf region, but also in the Far East, South Africa and Europe, as well as in the UK. Alan is a highly experienced trainer and course leader. Over the last 15 years he has led more than 250 conferences, seminars and workshops concentrating on performance management disciplines.

He has wide practical experience of budgeting and forecasting techniques and has a particular interest in the linkage of budgeting to other planning and performance measurement disciplines.

Tel: +971 4 335 2437

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Fax: +971 4 335 2438

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Aligning Budgeting With Strategy Programme Outline Day One Strategic Management • Introduction: what is strategic management? What are the main components of success and how does the budget process fit within the overall strategic management framework?

• Articulating a strategic plan: converting the plan into relevant strategic measures and targets, supported by improvement initiatives • The challenges of strategic implementation: critical success factors and how to avoid common problems • Management tools and techniques used in support of strategic management – including the Balanced Scorecard Case Study Analysis The management challenges in successfully developing strategic measures and targets Exercise The development of appropriate strategic performance measures, including the need to ensure appropriate measure definitions to drive the intended behavioural outcomes

Day Two Budgeting And Its Alignment To Strategy • An outline to budgeting • Traditional budgeting: how it fits with strategic management and the common problems to be avoided • The integrated planning and budgeting process: how budgeting should be incorporated within the overall planning process • Business monitoring and review: how budget monitoring should fit within overall business performance measurement • An introduction: modern budgeting – modern budgetary techniques that align with successful strategic management (to be developed during the remainder of the programme) Exercise Spreadsheet exercises to illustrate practical budgeting issues Course Timings: Registration will be at 07.30 on the first day of the course.

Course sessions will start promptly at 08.00 and end at 14.30. There will be two short breaks for refreshments and lunch will be served at the end of each day’s sessions.

Modern Budgetary Applications • Value Based Budgeting (VBB): the use of investment centres to enable management to control and monitor the distribution and successful use of shareholder funds within the business • An understanding of VBB and Economic Value Add (EVA) concepts Exercise The vital importance of VBB in a shareholder-value context • •

Key Performance Indicator (KPI) budgeting: focussing the budget process on strategic and operational KPIs How KPI budgeting can provide a major improvement in the management value of budgeting, especially when linked to the longer-term strategic issues facing the organisation

Exercises Breakeven analysis Selecting appropriate KPI factors for budgeting

Tel: +971 4 335 2437

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7 – 10 October 2012 Jumeirah Emirates Towers Hotel, Dubai, UAE •

Zero-Based Budgeting (ZBB): widely known but rarely used. This approach to budgeting has considerable benefits if used practically. Exploration of the concept and its application

Day Three •

Activity Based Management (ABM): including Activity Based Budgeting and Costing. The use of ABM to support strategic cost management

Case Study Analysis A world-class example of cost management Exercise Applying ABM principles • •

The analysis and control of overhead and support costs in alignment with the overall responsibility culture of the organisation Examination of the various levels of overhead/support control

Exercise The impact of improved overhead cost allocation • •

Rolling budgeting/forecasting: techniques that enable the budgetary process to reflect the rapidly changing business world, avoiding the inherent problems of the rigid annual budget “Beyond Budgeting” – a newly emerging management philosophy in which the traditional approach to budgeting is abolished completely and replaced with the careful use of new management tools aligned to a modern and open management culture

Day Four Capital Expenditure Budgeting • Budgeting and monitoring of capital investment projects. Ensuring that proposed infrastructure projects are in alignment, both with the organisation’s overall financial policy and its strategic objectives Exercises Applying the discipline of capital investment appraisal to capital budget applications •

The importance of ‘post audit/post project evaluation’ – a discipline that is not as widely used as it should be

Develop an action plan for improvements to implement within your organisation, based on the knowledge you gained during the course Laptops To take full advantage of the hand-on exercises throughout this course, please bring your laptop to the course

“Excellent content presented by an excellent instructor” Mohamad Bisher, KAUST, Saudi Arabia

“Very useful and informative for strategic thinking” Jaber Al Noumani, Oman Refineries & Petrochemical Co, Oman

Tel: +971 4 335 2437

www.iirme.com/alignbudget

Fax: +971 4 335 2438

Email: register@iirme.com

Aligning Budgeting With Strategy 7 – 10 October 2012 • Jumeirah Emirates Towers Hotel, Dubai, UAE FIVE WAYS TO REGISTER +971 4 335 2437

IIR Holdings Ltd. P.O Box 21743 Dubai, UAE

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DISCOUNTS AVAILABLE FOR 2 OR MORE PEOPLE CALL – +971 4 335 2483 E-MAIL – a.watts@iirme.com WEB BC4425 Event Aligning Budgeting With Strategy 7 – 10 October 2012

Course Fee Before 22 July 2012

Course Fee Before 12 August 2012

Final Fee

US$ 3,895

US$ 4,395

US$ 4,695

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Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

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A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received.

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Avoid Visa Delays - Book Now Delegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible.

Visas for non-GCC nationals may take several weeks to process.

All registrations are subject to acceptance by IIR which will be confirmed to you in writing.

Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers.

Event Venue: Jumeirah Emirates Towers Hotel, Dubai, UAE Tel: +971 4 330 0000 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 407 2517 Email: hospitality@iirme.com © Copyright I.I.R. HOLDINGS B.V.

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If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge.

Registration fees for registrations cancelled 7 days or less before the Event must be paid in full. Substitutions are welcome at any time.