About
Most organisations use the budget as their primary management system for establishing targets, allocating resources and reviewing performance. For organisations operating in an environment of continuous change, budgets quickly become out of date, raising the question of whether they are in fact worthwhile.
Rolling forecasts offer greater visibility into future operating performance. Unlike budgets, they reflect the fact that operations don’t switch off at year-end. Making good business projections isn’t as hard as it sounds. Well-established forecasting techniques, used properly, can significantly improve profits. Implementing forecasts and invigorating your planning techniques can take some of the guesswork out of operational decision making and put the focus back on optimising profitability, rather than putting out fires.
This two day in depth masterclass will allow you to effectively link strategic planning, budgeting and forecasting and has been updated to meet the challenges faced by the public sector.
Key Learning Objectives:
• Gain an understanding of Strategic Planning in the Public Sector context
• Learn to develop financial plans
• Understand leading edge budgeting tools and how they apply to Public Sector organisations
• Learn to make an effective rolling forecast
• Use effective tools for performance management and setting KPIs
Who Should Attend?
Anyone in the public sector (including central, local government and assorted agencies) who wants to increase their knowledge of budgeting and forecasting in a public sector environment including:
• Chief Financial Officers
• Finance Managers
• Management Accountants
• Planners and Policy Analysts
• Performance Managers
• Budgeting Managers
Training Methodology
This intensive 2-day master class will combine tutorial sessions and case studies with interactive learning exercises. All attendees will be provided with a workbook and a certificate of completion.
Outline
Understanding Strategic Planning
• Planning in the Public Sector
• Strategic planning models and frameworks
• Translating strategic plans into business plans suitable for the Public Sector
• What is the relationship between strategic plans and financial plans?
Strategic Planning Processes within Public Sector Organisations
• Linking organisational strategy with agency vision and mission
• Are there gaps in your organisations strategy?
• Aligning your departments strategic plan with the agencies (and Government) policy and plans
• Identifying and managing the organisations strategic risks
• Communicating strategy to diverse units across the organisation
Developing the Financial Plan
• Highlighting the limitations of traditional budgeting processes in organisations
• Integrating budgeting and planning to drive resource allocations
• Involving operational managers and business unit heads in the budgeting process
• Communicating the budgeting process across the organisation
• Assessing whether traditional budgets support the current business environment
Leading Edge Budgeting Tools and Techniques for Public Servants
• What are the current leading edge budgeting methodologies?
• Implementing best practice financial management processes
• Beyond Budgeting concepts applied to public sector organisations
• Activity-based budgeting & Zero-based budgeting
• Priority-based budgeting
• Trending and benchmarking
Rolling Forecasts in the Public Sector Context
• Core concepts of rolling forecasts
• Why move from budgeting to rolling forecasting?
• Setting targets and measuring performance
• Evaluating forecasting options
• Designing and preparing rolling forecasts
• Linking activity based budgeting to rolling forecasts
• Linking rolling forecasts with strategic planning
• Evaluating the software solutions that support rolling forecast
Tools for Effective Performance Management in the Public Sector
• Linking performance management to departmental and the Government’s strategy
• Integrating strategy, financial plans and performance indicators
• Highlighting factors that influence performance management
• Developing effective performance management systems for your department
• Considering alternative frameworks for performance measurement and improvements
Performance Management and Reporting
• What are relevant Key Performance Indicators (KPI’s) and drivers?
• How does management reporting influence performance?
• Introducing strategic scorecards
Case Study: Putting it all together
Aubrey will work through an implementation linking planning budgeting and forecasting in a Public Sector Organisation
Facilitator
Aubrey Joachim , Principal Consultant, Leading Edge Change
Aubrey Joachim (Australia) FCMA; MBA; GAICD is a Chartered Management Accountant – a Fellow of the Chartered Institute of Management Accountants UK, and MBA and a Graduate of the Australian Institute of Company Directors. He has over 30 years of strategic management accounting experience with global conglomerates (Anglo-Dutch conglomerate Unilever and US Energy giant McDermott International Inc.) in South Asia, the Middle East, South East Asia and UK. Since 1993 Aubrey has been an Australian citizen and been involved in the financial services sector and Sydney Water Corporation (world’s 5th largest water & waste water company) in senior finance roles.
In 2005 Aubrey set up his own boutique consulting organization – Leading Edge Change, essentially focusing on delivering public and in-house training and development workshops and seminars in finance, management accounting, strategic management, asset management, beyond budgeting & forecasting and Finance Transformation in a number of countries across the world. He runs programs in New Zealand, Australia, Singapore, Malaysia, Thailand, Vietnam, China, Philippines, India, Sri Lanka, Dubai, Abu Dhabi, Oman, Bahrain, Tehran, Kenya, Uganda, Zambia and the UK. With this wide background experience of cultural and linguistic diversity Aubrey has the ability to appeal to any audience.
Aubrey also works with professional bodies and is a trainer for the Australian Institute of Company Directors, as well as conducting professional development courses for CIMA in the UK, Malaysia, Sri Lanka, UAE, Southern Africa, Hong Kong, New Zealand and Australia, The Institute of Chartered Accountants in Australia, CPA Australia, MIA in Malaysia and the Institute of CPA’s Singapore (ICPAS) and the Honk Kong Institute of CPA’s.
Aubrey is consistently rated very highly by his various audiences globally and is a presenter in high demand.
He writes on technical and managerial topics and has been published in professional journals including CIMA and the National Accountant (Australia). He has also been contributing a monthly article on Management Accounting in the Charter Magazine – the monthly journal of the Institute of Chartered Accountants, Australia.
In 2009/2010, Aubrey became the first non-British/ Irish global President of the prestigious global management accounting body CIMA – the Chartered Institute of Management Accountants UK in its 90 year history. This global position gave him significant exposure and public profile. He has been written about and provided opinion pieces that have been published in various countries. In his CIMA presiddential role he has presented on Finance Transformation to global multinationals such as Shell, Ford, Rolls Royce, Unilever, Barclays Bank, IBM, Time Warner and Swire Coca Cola.
Aubrey Joachim is also facilitating:
In-house Training
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