Quarterly Rolling Forecasting – the ten foundation stones
Quarterly Rolling Forecasting is one of the most important management tools of this decade and is a process that will revolutionise any public or private sector organisation.
How to implement quarterly rolling planning – and get it right first time
“Quarterly rolling planning (QRP) is the most important management tool of this decade and is a process that will revolutionise any public or private sector organisation!”
Barriers to implementing a quarterly rolling forecast
In earlier articles I promoted the use of quarterly rolling forecast forecasts, explained what they are and set out the lessons that organisation have learnt, the painful way. Now I wish to look at the implementation issues.
Whilst all implementations will be unique they should have many common features just like a fingerprint. This article will provide the reader with some useful templates.
How to implement a quarterly rolling forecasting on a planning tool – the lessons to learn
“Many have had to rebuild the planning model within 18 months of its commissioning, as a better understanding of the planning tool and its capabilities comes to light”.
In my article “Demolishing barriers to success” (March 2005) I said that quarterly rolling planning (QRP) is the most important management tool of this decade. I explained how quarterly rolling forecasting and planning fit together and the features of a QRP process. This article will look the lessons learnt from implementing planning applications that will perform the forecasting and planning activities.
Throw out the budget process, or at least radically alter it
Companies in Asia, Europe, America and some in New Zealand are recognising that the existing budget process cannot continue. It has been with us, some say, since the Roman calendar was adopted by the western world. It is now seen by many that the budget process is a hindrance to management rather than a help. An international survey found that nearly 90% of chief financial officers (CFOs) were dissatisfied with their budget process and that there was often no link from the annual budget to strategy.