Part 1 consists of 3 modules:
Module 0: Introduction and familiarisation with spreadsheets for beginners (optional) – on-demand and live ONLINE Q&A
All participants will be sent access to our on-demand introduction to spreadsheets training which can be completed in their own time. To support this on-demand training there will be a series of live Q&A sessions where participants can bring all their spreadsheet questions.
Module 1: The basics of budgeting – 4 hours live ONLINE
Lead by Alan Fairholm a Line Producer, this session is designed to guide participants through the principles of estimating materials and labour so they can prepare a budget. The course will cover:
- What to consider
- How to calculate the budget
- Making estimates
- Contingencies
The session will then drill down into the detail on labour costs:
- What am I trying to estimate? (what needs to be done, by when, and by whom?)
- Writing down a proposed list of labour needed/work to be done
- What information do I already have? (e.g. rates, hours, duration, number of people)
- What do I need to find out? (e.g. rates, hours,tax status)
- Making assumptions and ensuring consistency
- Researching and putting costs against each estimate
- Additional costs? (e.g. travel, per diems, accommodation, overtime, holiday pay, pension contributions)
- Explaining assumptions made to prepare the budget
Then it will move onto materials costs:
- What am I trying to estimate?
- Writing down a list of components
- What do I already know? (e.g. sizes, quantities, quality)
- What do I need to find out? (e.g. quotes, prices)
- Making assumptions and ensuring consistency
- Researching and putting costs against each component
- Hidden charges? (e.g. P&P, Returns, Deposits, Additional insurance)
- Recognising VAT inclusive and VAT exclusive prices
By the end of the session, participants will be able to use this information to prepare a budget and be able to explain the assumptions made.
Module 2: The relationship between departments and the Line Producer and Production Accountant – 4 hours live ONLINE
This session follows Module 1 and is department specific. In this session, you will learn first-hand from an experienced HOD from your department about how they approach budgeting. They will give examples from productions they’ve worked on, what they took into account and what top tips they have that have helped them create and manage budgets.
They will also share how they work with the Line Producer, how important these relationships are for the production, the importance of keeping costs up to date and accurate to ensure the smooth running of the production.
The second half of the session, we will be joined by a Production Accountant to hear how they work with the Production Departments and Line Producers on the financial management of the production. They will share their top tips and the common areas that cause problems and challenges when preparing and running a departmental budget.
The final part of the session will look to draw this part of the course together, to offer the opportunity for students to share thoughts and questions to ensure they leave the course with a clear vision of how they will go forward in preparing budgets.
