Faculty of Business, Communication and Finance
Agile Finance
25th – 29th November 2024 – Rotterdam
In the traditional world, financial planning most often occurs annually, with budgets allocated in advance and success measured in relation to budgets. In today’s complex business environment, this no longer works and new approaches are needed. While continuing to emphasize wise spending and compliance with regulations, these new approaches also enable adaptation and rapid response to the changing circumstances in the business ecosystem.
This means approaching finance, accounting, and procurement with an agile mindset, radically changing the way budgeting and cost allocation is undertaken, reexamining our accounting principles and taking more collaborative and incremental approaches to procurement.
Course Objectives
At the end of the course, participants should be able to:
- Understand basic concepts of Agile Finance
- Understand why organizations are ‘going Agile’ and the implications for the financial departments
- Gain practical tools and evidence-based methods to start applying Agile finance to their own work
- Co-create a great and enlightening employee experience using Agile finance, finance techniques and design thinking
- Encourage professionals from the financial departments to welcome change and adapt in the context of the changes, which constantly appear in the financial business environment
- Reshape the way in which the financial department is structured
- Redefining the way which budgeting and cost management are handled, focusing on Agile values
- Changing the perspective upon the activity in the accounting and procurement fields, based on an Agile mindset
- Understand how to implement Agile methodology in a regulated environment
Target Participants
The course is aimed at Finance professionals, Procurement professionals, Business managers, and Accountants
Outline
Introduction to Agile Finance
– The Motivation for Change
– Agility in a Nutshell
– Financial Reporting in Agile Organizations
Adapting Finance to Agile Organisation
– How Traditional Financial Approaches
– Challenge Enterprise Agility
– Approaches for implementing Agile Finance
Changes in Role and Perception
– Primary Changes in Financial Roles
– New Competencies and Skills Needed
Agile Finance and the Business Ecosystem
– Dilemmas and Different Perspectives
– Challenging Silos and Misalignment Isolated
– Creating Partnerships
– Building Trust in Financial Contexts
– Agile Collaboration Models
– Distributed Teams
Budgeting and Cost Management
– The Imperative to Change: Budgeting and Cost Management
– Revisiting the Purpose of Budgeting
– Influence of Goals on the System
– Influence of Goals on Human Behavior
Frequency of the Budgeting Cycle
– Budgeting and Cost Management for Agility
– Shifting from Fixed Budgets to Incremental
– Adopting Continuous Financing
Targets, Forecasts, and Resource Allocation
– Effective Financial Targeting
– Effective Financial Forecasting
– Effective Resource Allocation
Budgeting to Create Customer Value
– Comparing Funding Approaches
– Value Management vs. Cost Management
Budgeting across the Product lifecycle
– Product Lifecycle Considerations
– Early Lifecycle Financing for Exploration
– Late Lifecycle Financing for Exploitation
Empowering Teams to Manage Finances
– Ownership and Product Budget
– Trust and Transparency
– Moving Funds as Needed
Agility and Finance Compliance
– Accounting with an Agile Finance Mindset
– Agile Processes and Compliance
– Authority & Regulation
– Agile Principles and Accounting Ethics
– Moving from Accounting Rules to Accounting Principles
Agile Accounting Metrics
– Cost of Delay
– Cost of Quality and Non-Conformance
– Forecasting Future Value
Accounting for Agile Initiatives
– CapEx vs. OpEx
– Capitalizing Development Tools
– Iterative vs. Flow-based Allocation
Agile Procurement
– Overcoming Traditional Procurement Challenges
– Challenges of Traditional Procurement
– Agile Approaches to Procurement
– Agile Tools for Procurement
– Partnership Ecosystems
Agile Contracts
– New Contract Models
– Mutually Beneficial Contracts
– Incentives over Penalties
– Key Performance Indicators (KPIs)
– Contract Feedback Mechanisms
– Legal Considerations
Nothing Beats the right skills for personal and organisational growth
No matter the expertise level you intend to pursue, we always have the right programme for you
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