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Budgeting and Forecasting Program

March 4 @ 8:00 AM - March 6 @ 5:00 PM

Program Overview

The Budgeting and Forecasting Program is a 3-day intensive workshop designed to provide finance professionals, managers, and business leaders with the essential tools and techniques for effective financial planning and decision-making. This program offers a practical approach to mastering modern budgeting practices and forecasting methods, helping participants align financial processes with organizational goals in dynamic business environments.

Participants will gain hands-on experience with budgeting and forecasting frameworks, enabling them to navigate uncertainties, optimize resource allocation, and drive organizational success.


Learning Objectives

By the end of the program, participants will:

  • Understand the principles of budgeting and forecasting and their role in financial management.
  • Learn advanced budgeting methods to create flexible and accurate budgets.
  • Master various forecasting techniques to predict financial outcomes.
  • Develop scenario planning skills to anticipate and manage uncertainties.
  • Learn how to communicate financial insights effectively to stakeholders.
  • Apply budgeting and forecasting tools and frameworks to real-world challenges.

Program Structure

Day 1: Foundations of Budgeting and Forecasting

  • Objectives:
    • Build a solid foundation in budgeting and forecasting principles.
    • Understand their role in strategic financial planning.
  • Topics Covered:
    • Budgeting Basics: Purpose, types (static vs. flexible), and best practices.
    • Forecasting Essentials: Definition, importance, and types of forecasting.
    • Budgeting Process: Steps to create strategic budgets aligned with organizational goals.
    • Key Differences: Budgeting vs. Forecasting – when and how to use each.
  • Activity:
    • Hands-On Exercise: Create a simple budget for a department using provided data.
  • Assignment:
    • Identify a challenge in your organization’s budgeting process and suggest improvements.

Day 2: Advanced Techniques and Tools for Budgeting and Forecasting

  • Objectives:
    • Explore advanced methods for budgeting and forecasting.
    • Learn how to integrate tools and frameworks for better accuracy and insights.
  • Topics Covered:
    • Advanced Budgeting Techniques:
      • Zero-Based Budgeting (ZBB)
      • Rolling Budgets for flexibility
      • Activity-Based Budgeting (ABB) for cost accuracy
    • Forecasting Techniques:
      • Quantitative Methods: Time series, regression, and trend analysis.
      • Qualitative Methods: Market research and expert judgment.
    • Using Tools and Software: Overview of Excel, budgeting software, and ERP systems.
    • Variance Analysis: Understanding deviations and taking corrective actions.
  • Activity:
    • Case Study: Analyze a company’s budget and forecast. Use advanced techniques to recommend improvements.
  • Assignment:
    • Create a financial forecast for a project or department using a provided dataset and a preferred technique.

Day 3: Scenario Planning, Risk Management, and Communication

  • Objectives:
    • Develop skills in scenario planning and financial risk management.
    • Learn how to present and communicate financial insights effectively.
  • Topics Covered:
    • Scenario Planning:
      • Developing optimistic, pessimistic, and realistic financial scenarios.
      • Assessing risks and opportunities for each scenario.
    • Risk Management:
      • Identifying potential financial risks and strategies to mitigate them.
    • Communicating Financial Insights:
      • Creating impactful financial reports.
      • Data visualization techniques (e.g., dashboards, charts, graphs).
      • Presenting to stakeholders: Translating data into actionable insights.
  • Activity:
    • Scenario Development: Work in groups to create and present a financial scenario plan.
    • Presentation Practice: Deliver a concise financial report and recommendations to a simulated executive board.
  • Assignment:
    • Develop and submit a comprehensive financial report for your organization, including a scenario plan and actionable recommendations.

Program Delivery

  • Format:
    • In-person or virtual (interactive sessions with group exercises and real-world applications).
  • Duration:
    • 3 full days (6-8 hours per day).
  • Target Audience:
    • Finance managers, accountants, budget officers, project managers, business leaders, and professionals responsible for financial planning.

Certification

Participants who complete the program will earn a Certificate in Budgeting and Forecasting Mastery, validating their expertise in creating strategic budgets, accurate forecasts, and actionable financial plans.

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Details

Start:
March 4 @ 8:00 AM
End:
March 6 @ 5:00 PM
Cost:
Ksh60000.00
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