Public Programs
ESSENTIAL COST CONTROLLING, REDUCTION AND SAVING STRATEGIES
Course objective
On completion of the programme, participants will be able to:
- Develop a deeper understanding of cost control principles and practices
- Identify cost saving opportunities and alternatives without compromising quality or productivity
- Learn tools and techniques for budgeting, monitoring and reducing operational cost
- Enhance decision-making skills in financial planning and expenditure management
- Foster a culture of financial accountability and cost-consciousness
Who Should Attend
Managers, Professionals, Senior & Junior Executives who had profit center and cost center responsibilities ensuring effective cost controlling, reduction and savings in their organisations. This can be extended all levels of employees who assist and implement cost saving and reduction strategies.
METHODOLOGY
Where appropriate, training learning activites will include the following:
- Interactive Lectures & Videos
- Faciliated Group Discussions & Quiz
- Practical exercises and case studies.
COURSE CONTENT
Module 1: Introduction – the cost controlling process
- The benefits of cost control
- The risks of poor cost control
- Capital and revenue costs
- The importance of cost awareness
- The importance of cost reduction
- Cost management – the key aspects
- How to build a cost management and control process checklist for your areas of responsibility
Module 2: Cost removal – taking out costs
- Cost awareness
- Costs of poor design / poor processes
- Value engineering
- Removing redundant costs
- Cost reduction culture
- The need for cost reports
- What measures can be used to identify over-spends as early as possible
- Cost control performance measures and ratios.
Module 3: Understand the sources of value creation as key strategy in any cost saving initiatives
- Understand value generation and value destroying activities
- Identify firm’s cost drivers for cost reduction.
- Understand nature and behaviour of costs – fixed, variable and semi variable cost, direct and indirect costs in company’s operations.
Module 4: Cost Management tracking tool: Variance Analysis tool
- Understanding essentials of variance analysis & how variances are calculated in cost management
- What causes cost variances?
Module 5: Cost reduction process impact to the profitability
- Understanding of cost
- Cost element classification
- Value Costing
- Costing methods and structure for quick decision making
- Identify firm’s cost drivers in Activity Based Costing (ABC)
- Application to cost reduction strategies
Module 6: Application of cost controlling techniques
- Group work: Propose Real life value reengineering, cost savings, controlling and monitoring based on bottoms up budgeting and forecast
- 3 & 4 DEC 2025
- WED & THU
- 9AM - 5PM
- WYNDHAM GRAND BANGSAR KUALA LUMPUR HOTEL SELANGOR / REMOTE ONLINE TRAINING
By: HYBRID PUBLIC PROGRAM
Download Program Brochure:
Follow Us:
Program Highlights & Key Details
How To Submit an Enquiry to Us?
- Fill in the form below and submit to us.
- Initiate a conversation via live chat on the bottom left of our website by stating: “Hi, my name is [your-name]. I’ve already submitted the form for this training.”
- We’ll promptly reach out to you regarding the training you’re interested in.
Program Enquiry Form
THANKYOU FOR YOUR ENQUIRY
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.