Magazine article Financial Management (UK)

'Driving Down Costs' CIMA Mastercourse: Course Speaker Andrew Wileman, a Consultant to Chief Executives and Board-Level Clients in a Range of Multinational Companies, and Who Has Run More Than 50 Major Cost-Reduction Projects in Europe and North America

Magazine article Financial Management (UK)

'Driving Down Costs' CIMA Mastercourse: Course Speaker Andrew Wileman, a Consultant to Chief Executives and Board-Level Clients in a Range of Multinational Companies, and Who Has Run More Than 50 Major Cost-Reduction Projects in Europe and North America

Article excerpt

The course was launched this year and is aimed at abroad audience, including business unit managers, finance professionals and HR executives.

Tight management of costs is, of course, particularly relevant for the private and, increasingly, the public sector in the current global economic climate. Indeed, when I ran this course back in March, the majority of delegates came from a public sector background.

I structure the course around my book. Driving Down Cost, which sets out a toolkit of generalised approaches to cost management that would be relevant for any kind of business or public organisation. It draws on my 30 years of experience as a strategy consultant for companies like Booz Allen and BCG - much of which involves long- and short-term cost management.

The toolkit comprises seven themes, each including eight to ten sub-topics. These include the role of leadership in the cost-reduction process - the fact that the behaviour of senior management is just as important as the analytic techniques that one brings to bear.

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I also emphasise the importance of differentiating between managing in house people costs versus all other costs. Why? Because staff costs are by far the most emotional and trickiest to manage. They are also the key cost challenge to manage in the public sector. All other costs, whether they are related to outsourced services, suppliers or property, are fundamentally much less emotional and therefore more straightforward. …

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