Istanbul-Turkey: +905395991206 - Amman-Jordan: +962785666966 - London (UK): +447481362802

Finance and Accounting Courses

Budgeting, Planning & Contracting Management


This seminar provides the skills to build world-class standards into your planning, budgeting, performance measurement, and reporting system. This seminar will discuss new techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance and shareholder wealth creation. You will explore the issues relating to capital budgeting. Budgeting manufacturing as well as other expenses, identifying profit objectives, budgeting cash requirements, and forecasting are all covered in this seminar.

The second week of this course to provide participants with the knowledge, skills, and tools required to manage contracts from inception to closure. Participants in this interactive course will learn about the activities conducted in each phase of the life cycle of a contract, methodologies used to manage each one of these activities, and the best practices used in contract management. The course will cover critical areas such as contract preparation, contract award, and contract administration

Targeted Groups:

  • Financial Planners
  • Cost Analysts
  • Professional Advisers
  • Account Personnel 
  • Business Consultants
  • Professionals who require a more in-depth understanding of integrated planning & budgeting techniques
  • Accountants responsible for budget preparation & management reporting
  • All those involved in any aspect of preparing, implementing, managing, or administering contracts and who are committed to proving their dedication to their professional growth

Course Objectives:

At the end of this course the participants will be able to:

  • Build integrated planning, budgeting, and reporting process
  • Improve their budgeting/financial skills required for better decision-making
  • Understand costs behavior more accurately
  • Deliver more timely and useful information to decision-makers
  • Explain typical costing and budgeting terminology used in business
  • Improve their management abilities
  • Increase their understanding of forecasting and budgeting techniques
  • Understand the problems of overheads and how Activity-Based Analysis may aid decision-making and pricing strategies
  • Contribute to the implementation of change in the organization
  • Facilitate the elimination of non-value activities and the reduction of costs within your organization
  • Understand cost behavior and patterns
  • Ensure that processes of business planning, budgeting, and management reporting are robust in themselves and suitable for their organization
  • Identify principles, definitions, and major steps involved in the contracting process
  • Outline all contract preparation activities including planning, developing the scope of work, and identifying sourcing options
  • Recognize different types of contracts and the effect of each type on the risk allocation strategy
  • Develop criteria to invite, receive and evaluate bids
  • Apply contract administration tools and techniques to effectively manage the contract and avoid disputes during implementation
  • Resolve disputes collaboratively and amicably and outline alternative dispute resolution methods

Targeted Competencies:

  • Separating problem identification and problem-solving
  • Objective and strong analysis of plans and results
  • Understanding the control aspects of budgeting
  • Ability to appreciate the human factors involved in budget setting
  • Contract preparation
  • Contract administration
  • Preparing and evaluating bids
  • Planning contracting process
  • Resolving contractual disputes
  • Managing contractors

Course Content:

Unit 1: Budgets and Strategy in Today’s International Environment:

  • Organizational planning framework
  • The product / information / decision support cycle
  • Strategic, tactical, and operational forecasts
  • The strategic approach to business planning
  • Various strategic and tactical approaches to business planning
  • The international business environment

Unit 2: The Business Plan and Budget Development:

  • Developing the business plan
  • Identification of key value drivers
  • Achieving objectives
  • Zero base budgeting
  • Activity-based budgeting
  • Rolling budgets
  • Developing the Cash Budget

Unit 3: Analyzing the Applicability of Historical Data Using Excel:

  • Problems of forecasting
  • Using historical data to help predict the future
  • Forecasting
  • Sales volume
  • Development of Time Series Models using histograms, moving averages, exponential smoothing, and regression analysis
  • Using Regression Analysis as a predictor and estimator
  • Mastering the use of Exponential Smoothing as a Data Analysis tool

Unit 4: Using Activity-Based Budgeting and Cost Analysis Techniques:

  • Cost behavior and breakeven analysis
  • Activity-based costing
  • Budgeting for Processes rather than Departments
  • Defining Key Cost Drivers
  • Defining Key Activities
  • Developing the Activity-Based Budget

Unit 5: Capital Budgeting and Project Appraisal:

  • Identify the various types of capital projects
  • Discuss the capital project evaluation process
  • The impact time has on the value of money
  • Using WACC and ROIC as benchmarks
  • Determining the initial and subsequent capital project cash flows
  • Development of the "Hurdle Rate" for capital projects
  • Evaluate capital projects by applying NPV, IRR, ARR Payback models

Unit 6: Principles of Contracts:

  • Defining a contract
  • Elements of a contract
  • Important concepts in contract used in contract management
  • Contract Stages
  • Problems in preparing and managing contracts

Unit 7: Contract Preparation:

  • Stages of contract preparation and management
  • Set-up contracting strategy
  • Contracting methods
  • Developing the scope of work
  • Problems with a badly written scope of work
  • Developing Evaluation criteria
  • Decision analysis worksheet
  • Terms and conditions
  • Determining sourcing strategy
  • Pre-qualification criteria
  • Prepare request for proposal

Unit 8: Contract Types and Strategies:

  • One or several contracts
  • Fixed-price contracts
  • Cost reimbursable contracts
  • Time and material contracts
  • Payment terms

Unit 9: Tendering and Bids Evaluation:

  • Principles of tendering
  • Objectives of tendering
  • Tendering process
  • Bids Evaluation
  • Preliminary examination of bids
  • Technical evaluation
  • Commercial evaluation
  • Total cost of ownership
  • Value for money
  • Most Economically Advantageous Tender (MEAT)

Unit 10: Contract Administration:

  • Purpose of contract administration
  • Documents needed to administer a contract
  • Contract administration tools
  • Role of contract administrators
  • Substantial completion
  • Lessons learned
  • Final settlement

Unit 11: Claims and Variation Orders:

  • Breach of contract
  • Money damages
  • Equitable remedies
  • Changes and modifications
  • Alternative dispute resolutions (negotiation, mediation, arbitration)

Finance and Accounting Courses
Budgeting, Planning & Contracting Management (FA15174)


Mercury dynamic schedule is constantly reviewed and updated to ensure that every category is being addressed at least once a month, if not once every week. Please check the training courses listed below and if you do not find the subject you are interested in, email us or give us a call and we will do our best to assist.

Istanbul Office (Turkey) +905395991206

London (UK) +447481362802

Amman (Jordan) +962785666966