Forecasting Planning & Budgeting in today’s dynamic environment


This course examines whether traditional budgetary and forecasting processes are fit for purpose in today’s business environment where forecast time horizons are shortening with economic and competitive uncertainties and pressures increasing. It considers alternative planning, forecasting and budgetary techniques to improve both accuracy and outcomes, and to take more account of the needs and imperatives of operational management.

Venue details:  
Belfast, The Linenhall, 32-38 Linenhall Street, Belfast
Start date & time:  
24 November 2020 09:30
End date & time:  
24 November 2020 17:00
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
CPD hours:  
Speaker details
First nameLast name
John McKenzie


Product type:  
CPD course
Strategic finance and management reporting

Who should attend

This course is suitable for finance staffs at all levels ranging from the finance director through to “front line” finance staff aspiring to more senior roles or who are principally involved in budgeting, planning and forecasting. It is also suitable for operational staffs from senior director level down to budget holder or cost centre manager.

Course overview

  • What do we want our budget to achieve?
  • What do we have to live with that’s not in our control – competitive and economic factors and their impacts on forecasts and plans
  • Traditional forecast and budgetary problems we must overcome – uncertainty, lack of transparency, forecast accuracy, objectivity and management disaffection
  • Statistical and non-statistical techniques to improve forecast accuracy
  • Human and cultural factors that decrease budgetary effectiveness
  • Alternatives to traditional approaches - True rolling forecasts, Driver based budgets, Activity based budgets, Output based budgets
  • Increasing management participation and buy in to the process

Key learning outcomes

  • Recognise underlying pressures, drawbacks and causal factors that reduce budgetary and forecast effectiveness and accuracy
  • Understand workable alternative budgetary and forecast methods that address the limitations of more traditional approaches
  • See how the budget, the business plan and business strategy can be bound more tightly
  • Create a process that has transparency, better outcomes and is welcomed by management