Critical Skills for Strategic Forecasting & Budgeting Success
WINTER CPD SALE This series of recorded webinars is intended to give analysts, managers and senior managers (would-be and otherwise) an overview of the key concepts, tools and skills to undertake timely and efficient strategic forecasting in the 21st century.
Insight + Hindsight = Foresight
How often have you looked back with the benefit of hindsight and wished you knew then what you know now? How do you compare what actually happened with what you thought would happen? Have you a strategic appreciation of your company’s future and which milestones will show you’re on track?
Part 1: Theoretical Considerations
This recorded webinar considers what should be considered before wading into the numbers. Too often, managers cannot see the wood for the trees and this session looks at ways this may be avoided and the tools / metrics / techniques that can help.
Part 2: Where Am I Now?
“Those who cannot remember the past are condemned to repeat it” – George Santayana
Before any budgeting and forecasting takes place, do you know where your business is now and what the key drivers are? If you don’t know where you are and how you got there, how can you know the route forwards? And if you are a new business, what’s your baseline? This session looks at how to address these questions and get more comfort on confirming where your business is, its position
Part 3: Where Am I Going?
With an understanding of your present situation, how do you budget and forecast for the future? This session looks at the common tools available, why simpler is often better and the common mistakes made. It even considers using a key technique applied out of context…
Part 4: What-If? Analysis
No matter how hard you try to get your forecasting right, no matter how much you learn from the past and competitors, one thing we know with certainty is we’ll get our budgets and forecasts wrong if we try and use single-point estimates. We need to consider ranges of success through scenario and sensitivity analyses. This session considers what they are and how they may be used.
Part 5: So How Did / Will We Do?
Ranking evaluations and projects in a timely and efficient manner is what will set your business apart from your competitors. Those that learn from their mistakes quickest, prioritise appropriately and value effectively what they have, will be best placed for today’s market place. This session looks at concepts, tools and techniques that will help with ranking, evaluation and valuation.
Part 6: Reporting Considerations
One of the areas business lets itself down is in using effective communication to explain the rationale of the business, its budget / forecast and strategy to all key stakeholders. This session considers best practice ideas for presenting the story.
Upon satisfactory completion of this webinar you will be able to:
- Practically explain data forecasting and budgeting.
- Quantify the risks and rewards of estimating future assumptions.
- Explore different forecasting and trending methods.
- Develop several ways to analyse and present key outputs.
Aimed at all finance professionals / decision-makers involved in the budgeting and forecasting process, this course shows you how to reduce the risks in your decision-making and recommendations by using budgets, qualitative and quantitative analysis, by utilising our kit bag of tips, tools and techniques.
Topic: Business Mindset, Corporate Finance, People & Leadership
Sub-Topic: Business Planning & Analysis, Financial Modelling, Leadership, Risk Management, Strategy
Format: Recorded Webinar
Proficiency Level: Intermediate
CPD: 9 hours