Certificate in Strategic Cost Management

Course Description

Strategic Cost Management (SCM) is an advanced course designed to integrate cost accounting techniques with strategic business objectives. It explores how cost information can be used not only to control expenses but also to support long-term strategic decision-making. The course focuses on analysing cost structures, value chains, performance measurement systems, and cost behaviour in dynamic business environments. Through case studies, analytical tools, and practical frameworks, learners will develop the ability to align cost management strategies with organisational goals for competitive advantage.

 Course Objectives

1. To understand the strategic role of cost management in achieving organisational objectives.
2. To analyse cost structures and identify cost drivers for effective decision-making.
3. To apply modern cost management techniques such as Activity-Based Costing (ABC), Target Costing, and Life Cycle Costing.
4. To examine the integration of cost information into strategic planning and performance evaluation.
5. To evaluate cost management strategies in the context of global competition and technological change.

 Course Outcomes

1. Critically assess how cost information influences strategic business decisions.
2. Apply appropriate cost management tools to optimise resource allocation and control.
3. Design cost systems that support innovation, quality improvement, and customer satisfaction.
4. Interpret financial and non-financial performance measures to support strategic initiatives.
5. Recommend cost management strategies that align with organisational vision and market dynamics.