Budgeting Fundamentals for Groups

At A Glance
  • Half-Day
  • Badge Awarded
  • Virtual
  • English Language
What Your Team Will Learn Agenda Contact Us Team Process

What Your Team Will Learn

Strong financial and budgeting skills are a necessity to be an effective business leader of the training organization. Training managers are tasked with managing the financial resources of a training organization, ensuring they are allocated wisely to minimize costs and maximize value.

After completion of this course, your team will be able to:

  • Build and analyze a training budget
    • Understand the three most common financial statements
    • Develop sound conclusions from analyzing basic financial statements
    • Understand the difference between cash and accrual accounting – be able to identify which one your organization uses
    • Align your training budget with your L&D plan
  • Manage costs and budgets effectively
    • Classify and manage internal versus external costs and fixed versus variable costs
    • Understand the calculation of program costs, including employee time, travel, overhead, instructor and other expenses
  • Secure funding for necessary projects and additional resources
    • Build a business case for their project
    • Plan resource and workload
    • Conduct ROI and break-even analysis

Budgeting Fundamentals for Groups

The Budgeting Fundamentals for Training Managers Workshop spans four hours and is completed online. When your team attends this program, your they take part in a live, virtual instructor-led class (VILT), that includes ample time for discussion, analysis and application.

PREWORK
  • Understanding Financial Fundamentals Pre-Read
  • Pre-Training Discussion Guide
Building a Training Budget
  • Funding Models
  • Four Steps for Building a Training Budget
  • Aligning your Budget with Your L&D Plan

RELATED JOB AIDS: Pre-training discussion guide, Budget Building Blocks Framework

ACTIVITY: Create a Master Budget

Managing Budgets
  • Vertical and Horizontal Analysis
  • Accrual vs. Cash Accounting
  • Fixed Cost and Variable Costs
  • Direct and Indirect Costs
  • Understanding Budget Variances

RELATED JOB AIDS: Pre-Read Document, Sample Training Budget Report

ACTIVITIES: Budget Analysis and Variances; Explain or Adjust?

Funding Projects and Additional Resources
  • Business Case Elements
  • Resource and Workload Planning
  • ROI and Break-Even Analysis

RELATED JOB AIDS: Business Case Documentation Template, Business Case Presentation Template

Action Planning and Wrap Up
  • Reflection and Action Planning

RELATED JOB AIDS: Recommended Actions & Next Steps List, Action Planning Template, Post-Training Discussion Guide

WANT TO LEARN MORE?

Visit the FAQs page, or contact us to speak to someone directly.

Budgeting Fundamentals for Groups

Talk to a professional development specialist right now by calling (919) 653-4990. You can also schedule a call here or complete the form below to send us an email.

 


Budgeting Fundamentals for Groups

ALIGN YOUR TEAM AROUND A PROVEN FRAMEWORK FOR DEVELOPING INNOVATIVE L&D SOLUTIONS.

The Budgeting Fundamentals Workshop is a perfect program for aligning your L&D team with strong financial and budgeting skills, to be effective business leaders of the training organization.

HOW DOES IT WORK?

You’ll start by working with our director of professional development to determine if this program is a good fit for your training team’s needs. Next, we’ll help you identify the right people from your training team to participate in the Budgeting Fundamentals Workshop, and to select a time and delivery modality that minimizes disruption and maximizes learning. You’ll then work with the course facilitator to share your team challenges and ensure they’re able to connect the design thinking principles taught in the course to your specific context. Throughout, we’ll also offer recommendations and best practices for team alignment and reinforcement before, during and after training so that your team is prepared to apply the design thinking approach they’ve learned on the job to realize real business results.

WANT TO LEARN MORE?

Schedule a consultation today or read more about your options for developing your L&D team with Training Industry here.

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