CMI Unit 314 Managing Budgets and Resources

Managing budgets and resources is vital for organisations and businesses to remain operational in demanding times. Team leaders need the ability to manage money and resources carefully. They also need to know how their team relates to the performance of the company as a whole.

About this course

The aim of this course is to equip team leaders with the knowledge and skills to manage budgets and other resources with commercial awareness. Allowing them to run efficient and effective operations at a team level with commercial awareness.


Learning outcomes

  1. Understand the importance of managing resources in own area of responsibility
  2. Understand the use of budgets in an organisation
  3. Understand how to manage costs within a budget
  4. Know how to monitor and control a budget in own area of responsibility

Course content

1.1 Explain types of resources managed within an area of responsibility

1.2 Identify the importance of managing resources effectively in own area of responsibility

1.3 Explain methods used to achieve value for money when managing resources

2.1 Outline the purpose of a budget

2.2 Explain the types and use of budgets within an organisation

2.3 Explain the importance of operating within a budget

2.4 Explain how organisational governance informs the management of budgets

3.1 Explain the types of costs within a budget

3.2 Identify sources of information on costs in a budget

3.3 Identify the systems used for managing costs within a budget

3.4 Explain limits of authority when managing costs within a budget

4.1 Explain methods for monitoring a budget

4.2 Outline the actions to take to control a budget

4.3 Identify a process to escalate problems and changes to a budget in own area of responsibility

Key Features

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Learn at your own pace, choose when to start and finish the course

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Build credibility with your current and future employers

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Expert tutors with real-world management experience

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We help you practice actual management skills

CMI Unit 314 Managing Budgets and Resources

Course Summary

Guided Learning

25 Hours

Course / Unit Credit Value

Unit 314: 50 TUT

Qualification 1

CMI Level 3 Principles of Management and Leadership

Qualification 1 Credit Value

Award: 40 TUT; Certificate: 121 TUT; Diploma: 370 TUT
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