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We have faced your challenges and found solutions
- specialists in People and Procurement
- understand how companies work
- strong track record of success
ONLINE, OFF-SITE OR IN-HOUSE?
Why this course is different
This 2 day course provides participants with a thorough understanding of the difference between price and cost, value and reward, a ‘good deal’ versus a ‘bad deal’. It takes into account all the factors involved such that the person can be confident of awarding the contract to the best supplier under the prevailing circumstances.
This is a very informed and enlightened course on understating prices , drivers and levers that manage costs to your advantage.
It is different to Project cost estimation as it has extensive details around understanding cost and price principles and the techniques to control and manipulate them.
Project cost is more around the project management techniques to control costs.
Why you should attend
In periods of economic uncertainty companies come under extreme pressure to reduce costs and save money .This is when they turn to procurement for help.
This 2 day course models all the critical elements of cost complexity including :
- How to define costs properly.
- How to ensure that cost requirements and design are correct.
- How to factor in unknowns and uncertainties.
- When to produce estimates.
- How to manage performance to ensure it meets costs estimates.
Benefits to you
This intense period of costs and price analysis puts pressure on a business.
We work across expense management so you learn how total costs are built and managed across the cost life cycle.
By using tools , techniques and approaches you will operate with confidence in complex environments managing costs with risks to deliver value for your business.
Using and applying best practice models you will learn to develop techniques in your business ensuring a high levels of confidence integrity and success from all parties.
- To provide participants who come from contracting companies an understanding of how bid price and cost are unrelated.
- Understand approaches to estimating and building costs
- Run RFI and RFP tender process to build costs
- Build appropriation gates to close the gaps on actual costs
- Balance the six key components of : risk mitigation , innovation , service delivery , technical quality and assurance of supply
- Structure a contract and managing supplier relationships
- Master contingency planning and Mitigate and manage risks that arise
- Report savings and successful outcomes against milestones
Who should attend
This course is designed for all Procurement and supply chain levels , Purchasing and Buying teams , Category Managers ,Vendor Managers , Sourcing and Tendering ,Finance control, Project managers , Operation’s , Analysts , Risk and Auditors .
Key areas to be covered in the programme
- Defining proof of concepts and scope
- Principles and nature of costs
- Setting the budget approvals
- Defining existing cost of ownership
- Total cost of ownership (TCO )
Defining your needs and challenging Demand
- Appropriation requests and business cases
- Managing client relationships
- Demand management challenge through Stakeholder engagement
- Process application
- Socialising business case and budget approval
Governance and Risk assesment
- Assesing Risks and mitigation
- Defining governance and protocols
- Strategic segmentation and portfolio analysis
- Market analysis and testing
- Building RFI and RFP
- Planning negotiations and outcomes
- Supplier selection and balanced score cards
Actively Managing your costs and protecting value
- Using category management
- Formation of contracts and contract approval process
- Ongoing management of costs
- Supplier relationship management
- Milestones and KPIs including costs reduction and savings
Case studies exercises and interactive workshops are used to illustrate the important considerations when working on cost prie analysis
What some of our clients say about us:
“Stephen combines deep knowledge and long experience. His executive course had the right contents illustrated with the real life experience of a great professional.”Janice Allen – Project Lead at Highways England
- 2 Days (14 hours)
- Public course attendance
- refreshments included
- travel, meals and accommodation not included
- In-house course (max 10 delegates) tailored