Cost Management Excellence Award 2011
Please submit a short paper which in the best possible way communicates and documents your organisation's strengths and achievements within cost management accomplished in the period from 1 August 2010 to 31 July 2011. Submission papers should not exceed 2,000 words. The individual submissions will be reviewed by the jury with respect to the fulfilment of the criteria listed below.
Selection criteria
The submission should demonstrate that your organisation fulfils the following requirements regarding cost management as well as verify its cost reduction achievements within the below listed areas:
1. Cost management approach, strategy, policies, processes and systems
- Presence and key components of defined, structured cost management strategies as part of overall company strategy.
- Degree of integration and deployment of cost management strategies in the company culture.
- Applied policies, processes and systems in day-to-day operations.
- Application of particular cost reduction methodology (e.g. Business Process Improvement, Lean Six Sigma or similar framework).
- Application of cost metric indicators and benchmark cost metrics.
- Role of IT platform in cost management strategy.
2. Cost reduction achievements within the period of 1 August 2010 to 31 July 2011
- Realised cost savings compared to expected cost savings.
- Level of sustainability of cost savings.
- Degree of fixed cost converted to variable cost.
Submit your application to: awards@simcorpstrategylab.com with 'Cost Management Excellence Award 2011' as the subject line.
