Budgeting, Cost Evaluation and Tender Evaluation

The whole business world is running after the key words and/or objectives such as profit maximization, wealth maximization, cost control and reduction. The companies, that are successful in reducing the costs while achieving the highest quality and efficient project completion, are always considering the selection of the best tender. The tender selection process involves a careful step by step evaluations of all the bids and selecting the best without sacrificing the quality and deliverables within required timeframe. Therefore, this training program is fundamentally designed to offer the participants insights budgeting, cost evaluation and tender evaluation techniques. These essential skills can add value to the organization in general and to the participants in particular through the careful selection of vendors while achieving the organizational goals.

Course Outline
  • Budgeting Introduction
  • Budgeting process
  • Budgeting techniques
    • Zero based Budget
    • Incremental Budget
    • Value Based Budget
    • Top-Down Budget
    • Bottom-up Budget
    • Flexible Budget
    • Static Budget
    • Rolling Budget
  • Comparisons of Various Budgeting Techniques
  • Framework of Cost Evaluation
  • Qualitative Factors of cost Evaluation
  • Quantitative Factors
  • Level of Cost Evaluation
  • Determining the cost
    • Future Value
    • IRR
  • Determining the Resources
    • HR
    • Financial Resources
    • Time LIne
    • Cost Benefit Analysis
    • Selection of the best alternative
  • Tender Evaluation process
  • Evaluation Matrix
  • Total Cost Ownership Calculation
  • Preliminary examination
  • Technical and Commercial Qualifying criteria
  • Prequalification
  • Initial Selection
  • Post-Qualification
  • Adjusted Bid/Proposal price
  • Life Cycle Costs
  • Prioritization of rated criteria
  • Evaluation of Technical scores
  • Combined Technical and Financial scores
Take Away
  • Understand the basic elements of costing, budgeting and tendering process.
  • Find out how budgeting helps business meet their business targets and goals.
  • Understand the costing evaluation process.
  • Understand the tender evaluation process.
Suitable For

Professionals involved in the preparation of budgets, procurement and cost evaluation.

Duration: 3 Days
Tentative Dates: 25th September to 27th September 2019
Fee: Rs. 12000 Per Participant (10% discount for group of participants)


An enthusiastic, competent, self-motivated and hardworking Business Graduate and Chartered Accountant holding 25 years of sound professional exposure with proficiency in multiple aspects of business governance, educational leadership, financial advisory, and corporate training.

He is able to use own initiatives and to deliver quality as team leader. He possesses strong interpersonal and communication skills to managing and motivating operational teams, managers, service users, and delivery partners to achieve set objectives.

He is a motivational speaker and has delivered numerous lectures on soft skills and life skills. As a corporate trainer he enjoys expertise in the area of Accounting and Finance. His competencies as a professional trainer are proven nationally and internationally.


An educationist, trainer, mentor and coach.  An enthusiastic, competent, self-motivated and hard-working Management Accountant having 11 years of sound professional exposure with proficiency in multiple aspects of Management Accounting, Finance, Financial Accounting, Coaching and Training services. Professional Trainer with International Exposure conducting numerous training’s for professionals of different nationalities; including UAE, Egypt, Jordan, Philippine, India, Pakistan, Afghanistan, Somalia, Morocco, Saudi Arabia, Germany, Kenya, Sri Lank, Qatar in the areas: Financial Accounting, Corporate Reporting, Management Accounting, Performance Management, Business Analysis, Financial Management, Corporate Finance and Internal Audit.