Budgets and Beyond

  • All professionals

Prerequisite
Please contact us for information about prerequisites.

Expected Duration
1 day

Description

In this course, you’ll explore the basic principles and functions of budgets. You’ll learn about the problems associated with traditional budgets and discover how adaptive planning and control offers a more flexible alternative to traditional budgeting. You’ll also learn about how replacing fixed targets with benchmarks based on key performance indicators can encourage a more entrepreneurial organization.

Virtual short courses do not include materials or headsets.

Objective

1. Introduction

  • What Is a Budget
  • What Is Budgeting
  • High-Level Purpose of Budgeting
  • Functions of Budgeting
  • History of Traditional Budgeting
  • Types of Budgets

2. Typical Budgeting Process

  • Cost of Budgeting
  • Problems with Budgeting
  • Traditional Budgeting is Rigid
  • Rigid Budgeting Impedes Innovation
  • Fixed vs. Relative Outlook

3. Adaptive Planning and Control

  • Characteristics of Adaptive Planning and Control
  • Key Performance Indicators
  • Rolling Forecasts
  • Targets
  • Effects

4. Moving Beyond Traditional Budgets

  • Twelve Principles for Moving Beyond Budgets
  • Leadership Principles
  • Process Principles
  • Moving from Traditional Budgeting to a New Model

SUBSCRIPTION COST


$200.00

 

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