AUGUST 24 – 26, 2022 OPEN WORKSHOP: ENHANCING PRODUCTIVITY THROUGH COST CONTROL AND COST REDUCTION

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Our Ref: RG/10/B588

5th August, 2022

 

To: All Directors of Training/Human Resource Managers

All CIA Members

 

Dear Administrators

INVITATION AS PARTICIPANT AT A 3 – DAY OPEN WORKSHOP TITLED: ENHANCING PRODUCTIVITY THROUGH COST CONTROL AND COST REDUCTION

We most respectfully invite you to attend the above workshop in accordance with the following details:

 

RATIONALE

In Business organisations, the major objective is to maximize profit while non-profit organisations are interested in high quality service at an acceptable level of performance, but the main constraint facing them is the rise in cost of operation which in some cases leads to the collapse of corporate objectives.

Cost control and cost reduction are the two critical issues in Industry, Commerce and Government which are the most efficient tools used to reduce cost of production and maximize profit or high quality service delivery.

These twin concepts are very vital in productivity enhancement. While cost control is a quick process by nature, because it provides the necessary information needed about actual costs being in alignment with budgeted cost, cost reduction on the other hand is a more permanent process because it is used to save the unit cost of the product or service without tampering with the quality.

Because of sustained cost pressure in some organisations, outsourcing is often considered more seriously as a potential source of strength. Consequently the focus of outsourcing here is to reduce and control costs in services which might not be of strategic importance to the organization.

Organisations must understand the secrets of increasing productivity and managing its cost effectively in order not to affect result expected. By reducing and controlling costs, you can improve your competitiveness and productivity.

This workshop is therefore designed to equip participants with requisite knowledge, skills and competencies on how to effectively apply the concept of cost control and cost reduction in productivity enhancement.

 

LEARNING OBJECTIVES

At the end of the workshop, participants will be able to:

• discuss the concept of productivity cost control and cost reduction;

• identify the techniques of cost control and cost reduction

• outline the benefits of cost reduction and cost control

• explain the role of outsourcing in cost management

• establish the effect of cost control on the profit of an organization; and

• show the differences between the two cost concepts.

 

CONTENT

1) Cost Control, Cost Reduction and Overall Impact on enhancement of Productivity: An Overview.

2) Improving Productivity through Cost Control and Cost Reduction.

3) Understanding Cost Concepts and Minimizing Cost through Efficient Financial Administration Practice.

4) Managing Costs using Effective Administration Tools and Techniques.

5) Cost Reduction Strategies, Value Analysis and Budget Discipline through Outsourcing.

 

TARGET AUDIENCE

Employers of Labour, CEOs, Administrators, Accountants, Auditors , Regulatory Compliance Officers, Risk Managers, General Managers, Heads of Departments, Purchasing Managers, Marketing Executives/Managers, Finance Directors/ Managers, Directors, Top/Senior Executives, Team Leaders, and Civil Servants in all Public Establishments of the Economy.

LEARNING METHODOLOGIES

Lectures, discussions, syndicate work, case studies and exercises, audio-visual aids will be used to reinforce these training/learning methods.

DURATION: THREE (3) DAYS

DATE: AUGUST 24 – 26, 2022

VENUE: CENTRE FOR MANAGEMENT DEVELOPMENT (CMD), LAGOS

TIME: 9 AM – 4 PM DAILY

 

WORKSHOP FEE AND PAYMENT PROCEDURE

• CIA MEMBERS — N70,000

• NON MEMBERS — N80,000

 

WORKSHOP FEE AND PAYMENT PROCEDURE

• CIA MEMBERS — N70,000

• NON MEMBERS — N80,000

This fee covers Training Materials, Tea/Coffee, Lunch, Workshop Folders, and Certificate of Attendance. Participants are expected to pay cash direct into any of the following Institute’s Bank Accounts:

• First Bank of Nigeria Plc: (Account No. 2012238864)

• Zenith Bank Plc: (Account No. 1010155991)

• Account Name: Chartered Institute of Administration

Please forward your payment details to the Principal Administrative Officer, Exams/Training; Adm. Seyi Williams, FCIA; Tel. No. 08035026955; 08068900846 or the National Secretariat Tel. No. 08076983067, 08091505837 immediately after payment for further action. Kindly bring your deposit slip to the venue on August 24, 2022 in exchange for official receipt.

 

Your cooperation will be highly appreciated.

Yours faithfully

 

Adm. Ugochukwu Azubuko, FCIA

Chairman, Management Consultancy and Training Committee

For: REGISTRAR/CHIEF EXECUTIVE