Effective Financial Manager Skills for Development

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  • Fees : 2600 $
  • Date 13 Jan 2019
  • Location Dubai, English

Effective Financial Manager Skills for Development

Effective communication is critical to the success of all businesses. For the technical manager-whether internal or external, shared services or level two support-understanding the financial goals underlying in an organization's business strategy is a fundamental component of successful partnerships within an organization.

The most successful technical managers engage with their business partners through a shared understanding-and language-of an organization's financial goals and requirements. Honing that understanding by learning the financial terms and concepts involved increases cooperation and provides more opportunity for achieving success.

As a business-focused manager, it is imperative to communicate how technical activities translate into financial benefits that impact the business as well as how business strategy can incorporate more effective technical support to achieve its goals. Technical managers can add more value to their organizations by developing an understanding of costing, planning (budgeting/forecasting), accounting, valuing, and communicating that information to the business in financial terms.

This course will provide the tools to develop this understanding and explore core concepts such as total cost of ownership, return on investment, and value analysis (all essential to justify changes, prioritize work, and obtain support for initiatives).

What You Will Learn

  • Planning (budgeting), accounting, charging
  • Difference between budget, allocation, and chargeback
  • Different types of chargeback models
  • Difference between revenue and costs
  • Cost drivers
  • How to use an understanding of costs to better manage your business
  • Return on investment
  • Value on investment

Who Should Attend?

  • Anyone responsible for managing resources and who needs to improve their financial skills
  • Support center managers, technical support mangers, desktop support managers, support center directors, technical support directors

Course Outline

Unit 1: Introduction

Unit 2: Overview of Financial Management

  • Goals and objectives of financial management
  • Cost Accounting

Unit 3: Planning (budgeting/forecasting)

  • Developing budget – key categories that are typically addressed
  • Managing budget and forecasting – daily, weekly, monthly, quarterly activities
  • Provide samples of budget (primarily focused on categories)

Unit 4: Accounting

  • Budget reconciliation – includes sample reports
  • Allocations

Unit 5: Valuing

  • Calculating value
  • Chargeback models

Unit 6: Investment Analysis

  • Identify techniques used to justify and prioritize investments
  • Return on investment

Unit 7: Related Concepts

  • Service portfolio
  • Business case
  • Service catalog
  • Asset management
  • Linear and closed-loop financial management

Unit 8: Time is Money

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