Managing Your Career: More For Managers
Managing Budgets

‹ Developing Others | Focusing on Results ›

Managing budgets is a set of skills in fiscal management, planning, and adherence to process that ensures your ability to the maximize resources of your organizational group. Learning how to strategically manage budgets affords you the insight that is necessary to establish and achieve realistic goals. The resource allocation skills expected of new managers are displayed through responsible allocation of funds, anticipation of future needs, proficiency in UIC budgeting policies, and cost estimates that are complete and thoughtful.

Managers should continue to develop resource allocation abilities to create budget proposals and translate UIC objectives into accurate budget plans.

Examples of Managing Budgets in Practice

Resources

Instructor Led Courses

Leadership Essentials, a two-day training session, is designed to provide new managers and supervisors with information required to function in their role more effectively. The training includes a pre-session assessment tool, facilitated discussions about managing work teams at UIC, detailed information about application of key HR policies and post-session management tools.

SkillSoft Courses

The Essentials of Budgeting for Non-financial Professionals The budget is a formal expression of the plans, goals, and objectives of an organization. Familiarity with the essentials of the budget and their importance in allocating resources and guiding the activities in an organization is important to those at every level throughout the organization.

Using Budgets for Management and Control One of the most important uses of budgets is as a control tool. This course explores budget variance analysis as a tool for controlling and managing business activities in an organization, and effective management of the budgetary planning and control process. Examples of common budget variances, and ways to identify them, is provided.

Estimating and Budgeting Project Costs Accurately forecasting the cost of future projects is vital to the success of projects and the survival of any business. This course covers gathering cost information from numerous sources. It outlines tools and techniques, such as bottom-up estimating and reserve analysis, used to estimate costs, and determine the project budget by calculating reserves and funding requirements. This course will assist in preparing for the PMBOK® certification exam.