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Finance for Non-Financial Managers II: Cost and Risk Management

$
1800.00
Register
2 days | 16 academic hours


Training objectives
Training program Day 1
Training program Day 2

Training objectives

  • Manage costs and risks, and understand and evaluate their interconnection
  • Gain practical skills in analyzing and managing net working capital, which affects the company’s cash flow
  • Understand the basics of managing business performances

Training program Day 1

Introduction. The role of cost and risk management in improving business efficiency
Managing Operating Costs
  • Classification and structure of costs
  • Calculation of the break-even point
  • The impact of cost structure on risks and profit sensitivity to changes in market conditions: variations in selling price and volume
  • Analysis and evaluation of risk mitigation measures through changes in cost structure
  • Practical assignment (comprehensive case study): calculation of the break-even point, operating risk indicators for different cost structure scenarios, selection, and evaluation of the effectiveness of measures to adjust the operating expense budget
Net Working Capital Management: increasing cash flow and reducing the need for external financing
  • Concept of net working capital and its components
  • Cash cycle and its impact on cash flow and the company’s need for financing
  • Improving management of inventory, accounts receivable, and accounts payable
  • Reserves for reducing the need for external financing
  • Practical assignment: calculation of reserves for reducing the need for external financing through working capital management

Training program Day 2

Making and Analyzing Management Decisions
  • Relevant cash flows in the context of decision-making
  • Accept/reject a non-standard order with or without resource constraints for its execution
  • Optimization of product/service assortment
  • Potential disinvestment decisions
  • Practical assignment: evaluation of management decisions for each topic in this section
Risk Management
  • Definition and classification of risks
  • Components of a risk management system
  • Risk assessment, risk map
  • Risk management methods
  • Practical assignment: creating a risk map and selecting risk management methods
Improving Company Efficiency
  • Classification of business processes in terms of “added value”
  • Real value vs. business value
  • Identifying non-value-added activities
  • Indicators of company problems
  • Finding ways to improve performance, reduce costs, and mitigate risks