Course Overview

A practical knowledge of budgeting skills is vital for effective operational management, and for ensuring short-term tactical goals are aligned correctly with medium and longterm strategic objectives. This is, of course, particularly challenging in the current uncertain economic and social climate, making it more all the more important for nonfinancial corporate leaders to keep abreast of the latest forecasting techniques and practices.

This course provides a simplified, yet in-depth, insight into the mechanics of budgeting within manufacturing, production and corporate functions. Each topic is reinforced with real-world case studies.

Learning outcomes

• Corporate Strategy and Organizational Planning Process
• Understanding Budgeting Perspectives• Identifying Budgetary Constraints & Resource Limitation
• Alternative Budgeting Approaches: Zero-based, Incremental,
• Application of Quantitative Techniques to Cost Estimation and Forecasting
• Interdependence of master and sub-budgets
• Construction of Opex and Capex budgets
• Practical Techniques for Implementing the budget
• Monitoring and Reporting performance against plan
• Interpreting and investigating relevant variances
• Adjusting/correcting operational activity and reacting to economic and business changes

Workshop Approach

This workshop incorporates real-world case studies and draws on the latest budgetary practices. The delivery of the material is interspersed with group exercises and practical challenges, using excel spreadsheets.
The aim is to foster a hands-on understanding of the concepts and install a practical, and usable, knowledge of the skills required to develop effective and operating costs budgets

Training Schedule

Day one

  • 09:00 ntroductions and Learning Outcomes

  • 09:30 The Organizational Planning Process

  • 10:15 Understanding Budgeting from Functional & Operational Perspectives

  • 11:00 Tea/Coffee Break

  • 11:20 Understanding Budgeting from Functional & Operational Perspectives

  • 12:15 Lunch Break

  • 13:30 Identifying Constraints & Relationships

  • 14:15 Cost perspectives & Estimation Techniques

  • 15:30 Tea/Coffee Break

  • 15:50 Cost perspectives & Estimation Techniques

  • 16:30 Developing the Master and Sub-budgets

  • 18:00 End of day 1

Day two

  • 09:00 Developing the Master and Sub-budgets (Cont’d)

  • 10:30 Phasing your Budget

  • 11:00 Tea/Coffee Break

  • 11:20 Monitoring and Reporting Performance

  • 12:15 Lunch Break

  • 13:30 Monitoring and Reporting Performance

  • 15:00 Lessons Learned and Reforecasting

  • 15:30 Tea/Coffee Break

  • 15:50 Lessons Learned and Reforecasting

  • 16:15 Summary and conclusion

  • 16:30 End of Workshop

Training Program

Download detailed Agenda - Budgeting for Production & Operating Costs MasterClass

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Get to know the Expert Trainer

Raheen Sacranie
Raheen SacranieFCA, FCMA, CGMA, CPA, BA, MA, PHD Consultant, executive coach & corporate instructor

Raheen Sacranie is a member of the Institute of Chartered Accountants (ICAEW) and the Chartered Institute of Management Accountants (CIMA), in the UK. Following a stint with KPMG in London, where he was involved in well over a hundred operational investigations and audits, he has worked as a financial and technology consultant, coach and trainer in over 700 companies across the world. His experience straddles all industries, in the commercial and the public sectors, and a career that spans over 25 years.

He specializes in helping organizations address the knowledge gap between operations and finance, particularly in identifying and delivering customized consultancy and training solutions aimed at enhancing operational working practices, financial management, financial analysis, corporate governance, process re-engineering, project management, regulatory compliance, audit investigations, business writing & communications, IT collaboration tools, coaching/mentoring and other skill sets in line with competency frameworks and corporate objectives. He has managed and delivered several initiatives in these areas.

He is also a keynote speaker at several industry conferences, including: GPCA Innovation Workshop and OSHRM HR Symposium.

Who should attend?

All staff involved in budgeting but especially those working in the Production /Manufacturing / Front-end functions and Cost Centres, including: Heads of Operations, Production Planning, Maintenance, Engineering, Quality Control, Turnarounds, Distribution & Warehouse, Asset Control etc.

It will also benefit managers within certain back-end corporate functions involved in providing support to the production functions, including: Procurement, Marketing, IT, Project Managers & HR.

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You can always register without a name using the TBA [To Be Announced] option. Please indicate TBA instead of the delegate name and 2 weeks prior to the event you are able to send the delegate name/s to booking[at]
While we are not happy to see you cancel your registration, we understand that “life happens” and other obligations come up. Our refund schedule is as follows:
The client has the right to cancel his/her registration in the event.
There is a 50% liability on all conference registrations once made, whether the booking was made through our website or via e–mail/ telephone/ fax.
If the client cancels with more than 8 weeks’s advance notice, GLC shall be entitled to an amount equivalent to 50% of the conference fee and 16 EUR administration charge. In case the client has already made his/her payment, this will be deducted from the conference fee GLC has already received and the remainder will be refunded. If no conference fee has been received prior to the cancellation request, GLC will issue an invoice for the cancellation fee (the amount equivalent to 50% of the conference fee and 16 EUR administration charge), which the client must pay immediately upon receipt. No refunds are available for cancellations received with 8 week’s (or less) advance notice or in case the client fails to attend the conference. In these cases, the full amount of the conference fee must be paid.
In general no VAT is applied based on the Hungarian VAT law with the exception of individual payment [when you would like to pay from your own budget and not from the company’s budget] and for Hungarian companies where 27% VAT is applicable which is refundable at the end of the company’s fiscal year.
Our hospitality partners usually have options available for parking places, however it can change from event to event. If you would like to receive more information on parking please e-mail our colleague susanna.juhasz[at]
We provide a conference documentation pack which includes: conference agenda, notes pages and attendee information. Soft copies of some of the presentation are available on USB-flash-drives for each delegate. You may bring your laptop, tablet or other mobile device so you are able to review the presentations while they are being presented. Free Wi-Fi will be provided and outlets will be available for recharging computers, mobile devices and phones. We highly recommend you to bring along your business cards and a desire to learn from some of the industry’s leading experts.
The dress code is business casual. Feel free to leave the suits and ties at home this time. We do suggest you bring a sweater or dress in layers, as the conference room temperature may fluctuate.
Any of our staff members at the event will be delighted to help you. You can contact us for free via WhatsApp or Viber or any time over the phone or via e-mail or post.
  1. Get the timing right.
    Many people are afraid to request for training budget, because they can’t seem to find the “perfect time” to do it. Well, there’s no perfect time to ask for it, but there are definitely some moments that are better than others. For instance, if your boss is about to take a two week vacation, he/she might be in a good mood. If he/she just lost a major account, may not be wise at that juncture.
  2. Make a case for yourself
    When you ask for budget, you should be prepared with specific details and explanations about what is in it for the company and you’re superior. If you go into a meeting and just say, “I want to get budget for a conference,” it’s likely that your request won’t be taken seriously. If you want to plan ahead, then you should be prepared to explain the following points:
    1. Start by stating your accomplishments
    2. Show that you’re ready for more responsibility and eager to learn
    3. Describe:
    a) How this event will increase your productivity?
    b) How you will need less supervision
    c) How you can bring back the knowledge to the company
    4. Follow up
You might find free to attend events which are usually organized by a solution/service provider within the industry. Unlike at free to attend events, on a paid event you will find more diverse industry knowledge rather than presentations related to services or solutions.
In case you cannot attend for both days, you can always attend for just 1 day of the event. In this case we will send you all presentations of the 2 days. The participation fee is 70% of the original investment. In case you would like to attend the event for just 1 day please contact us on booking[at]
In case you are busy on 1 of the days, you certainly can split the 2 day conference with one of your colleague. All you need to do is send us an e-mail to booking[at]
We understand that not all senior-level professionals might be available on the dates. As the event is an annual event, most of the attendees try to postpone their engagements or send a small group from their teams to benefit from the conference.

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