When the oil price started dropping, the governments and businesses in most GCC countries began to tighten their belts and reduce spending. Senior executives began to monitor budgets and expenses much more closely, as they began to see a drop in revenue.
Budgeting is a key management tool, and knowing how to manage a budget effectively can improve decision making in organisations. This two day course will provide participants with the techniques and best practices for preparing and managing budgets effectively, with a particular focus on cost management and cost reduction strategies that will help organisations cope in a fluctuation oil price environment.
What will I learn?
This course will help you :
- Understand the budgeting and planning process and how it translates into annual budgets
- Discover principles, approaches and techniques of budgeting
- Understand the effect of a challenging economic environment on budgets
- Optimize planning of resources to achieve budgeted targets
- Differentiate between value generating and value-eroding costs
- Explore cost reduction options (strategic, tactical, operational)
- Discuss the impact of fluctuating oil prices on budgeting
This course is suitable for directors, managers or anyone who uses financial information in the course of their work. The course is particularly suitable for managers and heads of any department who want to improve their budget preparation and management skills in this challenging economic environment.
About PwC's Academy
PwC Academy is the educational business of the global organisation PricewaterhouseCoopers (PwC). Our goal is to give people greater knowledge, competence and expertise in finance and business. Our foundation is our team of expert professionals, who convey their wealth of knowledge and the practical experience they have gained within leading organisations around the world.
We offer a variety of training courses covering professional qualifications, financial competencies, and management skills. The courses are based on both the individual experiences of our experts and the best practices of PwC Global. We constantly adapt our courses to meet the needs of modern business and tailor them to our client’s requirements. PwC’s Academies in the Middle East are part of PwC’s growing network of Academies which are present in over 30 countries worldwide. Through the network of PwC’s Academies we continually exchange best practices and successful methodologies to ensure that we are consistently providing industry leading training programmes.See all PwC's Academy courses
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