How to Develop Business Plans and Budgets

Do you need tips on how to develop business plans and budgets?

This course is designed to provide you with an understanding of the processes for preparing business plans and budgets. It starts by looking at the business planning process, before identifying the sequence of the budget preparation and the different types of budgets that apply to an operational setting.

Importantly, this course highlights the common thread between the preparation of these two tools - the involvement of individuals and team members. Staff involvement is an important aid in improving the quality and accuracy of these tools, and also assists in gaining support for the goals and outcomes of these plans.

This course is essential for supervisors and managers responsible for developing business plans and/or budgets.

At the successful completion of this course, you should be able to:

define what the different types of business plans are; including strategic, operating and financial plans
prepare fixed organisational and operational budgets using accurate, relevant, and timely information
identify alternative approaches to budgeting
determine the key elements in effective budgeting
explore feasibility of new initiative and involve staff in the planning process
identify the internal and external factors in the organisation that can cause a significant change in order to prepare a budget contingency plan.