Public Sector Finance and Strategic Management Excellence

By attending this course, non-finance staff who need to extend their understanding of finance will learn how this could make a difference to their organization’s financial management. You will understand:

• the role of finance in implementing projects.
• how an organization's stakeholders affect its financial performance and growth.
• the activities in determining pricing objectives, policies and strategies.

This course will also provide insight and understanding to create and plan the delivery of hugely challenging Public Sector policies successfully. It analyses the many, and often conflicting strategic priorities within the public sector, and how to reach a compromise, so that a cohesive and coherent policy can be created and implemented. We discuss the fundamental requirements of a structured, strategic planning process. However, it is essential to remember that strategic planning takes places in a wider political context, which is often in a constant state of flux, and subject to a plethora of interests and influences, so such strategy creation cannot be carried out in isolation. Understanding, appreciation and consultation of stakeholders is essential to the successful outcome of a policy, so that we consider in depth how to achieve this. However, a policy cannot be implemented without resources which need to be assessed, evaluated and matched to requirements to achieve the outcomes required, which we study in this course.

This course gives deep insight into the complex and interrelated factors which help or hinder the successful implementation of Public Sector policy. The large majority of Public Sector policies do not deliver their intended outcomes. They often go over budget; are extraordinarily late; have unintended consequences; do not achieve their desired level of service; are irrelevant; are not wanted or just fizzle out. The course provides understanding of how and why public sector strategy can work. It provides tools, techniques and templates on how to understand needs and requirements, and then manage influences and interests, to ensure successful policy outcomes. It focuses on how to create, implement, evaluate and adjust policy as it is progresses. We analyse the key factors required for successful implementation at the global, national and local levels. Risks and crises are ever-present in the political arena and we discuss how to analyse, anticipate, evaluate and react to these and other specific crises which might arise at any time and ensure they do not deflect from providing the quality services expected and required.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Investment and Financial Management of Long-term Projects

• Project Appraisal
• Project Estimation
• Budgeting
• Financial management

Financial Management – Stakeholder Expectations

• Identifying stakeholders
• Accountability to stakeholders
• Triple bottom line
• Levels of investor control

Pricing Decisions

• Strategic pricing
• Price structure
• Pricing policy
• Analysing costs and profits

Financial Management Decision-Making

• Defining the decisions that you make
• Deciding on what support you need to define the relevant financial information required to make those decisions
• Examples and case studies

Strategic Vision and Planning

• Strategic priorities: setting meaningful objectives
• The strategic planning process
• Incorporating the complex influences and interests in creating strategy
• Internal analysis

Politics and the Public Sector

• Anticipating and responding to changing governments and politicians
• Civil servants working directly with elected representatives
• Aligning and resolving conflict between political objectives, conflicting demands and incompatible priorities.
• Maintaining continuity of service standards

Stakeholder Identification, Analysis, Alignment and Engagement

• Identify all stakeholders and monitor changes within and between them
• Building relationships with stakeholders appropriately
• How to manage competing and conflicting interests and objectives
• Formulate a comprehensive plan to involve, motivate, engage and monitor all stakeholders, particularly as they change.

Resource Assessment and Allocation

• Assessment of the current resources available
• Structured evaluation of the groups of resources required
• Allocation of resources efficiently and effectively
• Getting the most out of each resource

Public Sector Policy – Planning and Strategic Review

• Comprehensive analysis of public sector policy failure
• Techniques for strategic success
• How successful policies achieve desired outcomes
• Global, national and local level influences

Public Sector Strategy Implementation

• Key factors for successful implementation
• Adjusting to changes in leadership
• Project management and capacity development
• Monitoring, measuring, testing and readjusting results against targets.

Public Sector Crisis and Strategic Risk Management

• The Risk Management Cycle
• Identifying and evaluating sources of risk
• Possible decisions that can be taken to address risk
• Crisis reaction, control and response

Overcoming Strategic Challenges in the Public Sector

• External challenges
• Internal challenges
• Major restructure vs. Incremental adjustments
• Change is the norm, not the exception

Course Review

• Summary and recap of key learning objectives
• Action Planning

Target Audience

This course is suitable for a wide range of professionals but will be of real value to experienced or new or aspiring:

• Permanent Secretaries, Cabinet Secretaries and all Civil Servants.
• C-Suite Officers and Chairpersons of Non-profit organizations and Charities.
• Senior Public Sector Officers who work directly to lead Politicians.
• Elected and appointed Policymakers, Managers, and Planners in Governments, Public Agencies, and Non-profit organizations.
• City Council Members, Mayors, City Managers, Administrators, and Planners.
• Senior officers who work with Public Services to achieve broader community outcomes, e.g., Public Health and Well-being, Economic Development, and Community Relations.
• Police Chiefs, Fire Chiefs, and their staff.
• School Board Members, Administrators, and staff.
• Board Members and Company Secretaries.
• Non-executive Directors
• Directors, Deputy Directors, and Senior Managers.
• Heads of Departments
• Transformation Leaders
• Change Managers
• CSR and Sustainability Managers and staff.
• Risk Managers and professionals.
• Community Relations Managers and Executives.
• Health, Safety and Environmental Managers and officers.
• Legal and Compliance Managers and professionals.
• Managers and staff who wish to develop responsible strategic practices.
• Managers and staff concerned with influencing or implementing organizational strategies.
• Those who wish to capitalise on and grasp all strategic opportunities for their organizations.
• Those who wish to promote the strategic success of their organization.
• Those who need to extend their understanding of finance to more specific operational activities.

Learning Outcomes

Upon completion of this course, you will have:

• Analysed the role of finance in project delivery.
• Appreciated the role of stakeholders and their impact on an organization’s financial performance.
• Understood the processes involved in deciding prices.
• Analysed the key factors which lead to the success of public sector and not for-profit planning and know how to apply them.
• A comprehensive understanding of the role and influence of politics in the planning and adjustment of strategic policy.
• Identified all the stakeholders and appreciate the importance of a systematic approach to consultation, engagement and communication.
• Ascertained the resources which currently exist, those required and how to increase the overall resource capacity and capability.
• Developed a process to create and develop a successful Public Sector or not for-profit policy plan within the increasingly influential global context.
• A comprehensive grasp of the key requirements to implement public sector policy effectively, efficiently leading to the desired level of outcome and level of service, adapting as it progresses where necessary.
• Identified all sources of risk and evaluated them in order to decide how to manage them. You will know how to react when a risk becomes a crisis.
• The tools, techniques and confidence to overcome the huge range and depth of challenges which face the public sector and not for-profit organizations.
• Developed an Action Plan to be implemented at your workplace using the knowledge and skills acquired through the course.