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
- Understand the importance of managing resources in own area of responsibility
- Understand the use of budgets in an organisation
- Understand how to manage costs within a budget
- 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
Learn at your own pace, choose when to start and finish the course
Build credibility with your current and future employers
Expert tutors with real-world management experience
We help you practice actual management skills
CMI Unit 314 Managing Budgets and Resources
Course Summary
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Private: CMI Level 3 Award in Principles of Management – 1 Unit
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