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by Gary Cokins, Michael Coveney
Budgeting, Forecasting and Planning In Uncertain Times
Cover Page
Title Page
Copyright Page
Acknowledgements
Contents
Introduction
Section 1: Background to the Planning Framework
Chapter 1: Planning Fundamentals
What is Planning?
Components of Planning
Planning in Today's Business Environment
The Increasing Speed of Business and Globalisation
The Increasing Complexity of Business
The Decreasing Planning Time Horizon
Planning Challenges
Dissatisfaction With the Planning Process
Issues With the Planning Culture
Need for a Holistic Approach
Need for Better Planning Technologies
Planning Principles
Principle 1: Planning Connects Inputs and Outputs and is Therefore Directly Related to Organisational Activities
Principle 2: Planning is About Maintaining a Shared Understanding of the Economics of a Business
Principle 3: Planning is About Shifting Focus From the Past and Onto the Future
Principle 4: Planning is About Aligning Budgets With Strategy to Achieve Corporate Objectives
Principle 5: Planning is a Continuous Process
Principle 6: Planning is a Learning Process
Objectives of the Planning Framework
Chapter 2: Planning Methods and Methodologies
Planning: Who, What, When, and How
Planning Within a Sole Trader
Planning as a Small Manufacturer
Planning as a Listed Company
Planning as an International Group
The Rise of Management Frameworks and Methodologies
Popular Management Methodologies
Budgetary Control
Quality Management Movement
Lean Management
Balanced Scorecard
Beyond Budgeting
Planning and Success
Planning Process Maturity
Planning Objectives
Planning and Forecasting Maturity Levels
Basic Planning
Financial Integration
Partial Integration
Matrix Planning
Dynamic Planning
Chapter 3: Planning Technologies
Supporting the Decision-Making Process
Planning Technologies: The Spread Sheet
Two or Three Dimensional
Cell Meaning
Limited Business View
Single User
Lack of Workflow Capabilities
Planning Technologies: Multi-Dimensional Databases
Multi-Dimensional
Business Hierarchies
Name-Based Rules
Multi-User, Role-Based Security
Unlimited Size
Financial Intelligence
Spread Sheet Access
Multi-Dimensional System Issues
Comprehension
Complexity
Data Uniformity
Effort and Price
Modelling Tools
Section 2: Business Planning Framework
Chapter 4: Business Planning Framework
Logical Overview of the Framework
Framework Components
Operating Activity Model (OAM)
Cash Funding Model (CFM)
Detailed History Models (DHM)
Target Setting Model (TSM)
Detailed Forecasting Model (DFM)
Optimise Resources Model (ORM)
Performance Measures Model (PMM)
Strategy Improvement Model (SIM)
Management Processes
Knowledge
Reporting From the Planning Framework
Case Study Overview
About the Case Study Organisation
Company Structure
Company Strategy
Versions and Other Information
Chapter 5: Operational Activity Model
Overview
Model Structure
Measurement Types and Relationships
Step 1: Define High-Level Objectives
Step 2: Define Core Business Processes and Assumptions
Step 3: Identify Core Business Process Activities
Step 4: Identify Support Activity Measures
Step 5: Define Profit and Loss and Other Financial Measures
Putting the Model Together
Measures and Attributes
Model Dimensions
Model Rules
Reporting From the OAM
Departmental Outcomes, Activity, and Resources
Outcome Versus Activity
Outcome Versus Assumptions and Resources
Chapter 6: Cash Funding Model
Model Purpose
Defining the Model
Model Content
Additional Data Requirements Within the OAM
Identifying Cash Payment Profiles Within the OAM
Defining Payment Profiles Within the CFM
Other Cash Measures and Rules
Reporting From the CFM
Displaying Cash Requirements by Department
Evaluating Sources of Cash
Scenario Analysis
Chapter 7: Detailed History and Performance Measures Models
Reporting Past and Future Performance
Relevance
Context
Data Issues
Reporting Performance From the Planning Framework
Identifying DHMs
Case Study—DHMs
Sales Analysis
HR
General Expenses
Defining the PMM
PMM Content
PMM Business Dimensions
Case Study Measures for XYZ, Inc.
Reporting From the PMM
Chapter 8: Predict and Optimise Planning Models
Predicting the Future
Target Setting Model (TSM)
Driver-Based Modelling
TSM Content for XYZ, Inc.
Using the TSM
Detailed Forecast Model (DFM)
Overview
Developing the DFM
Linking the DFM to the OAM
Optimise Resources Model (ORM)
Overview
Case Study Example
Chapter 9: Strategy Improvement Model
Responding to Change
Model Focus
Link to the OAM and CFM
Defining SIM Content
Linking SIM Content to Management Methodologies
Planning Capabilities
Communicate Goals
Propose and Validate Projects
Select and Approve Projects
Monitor and Forecast Projects
Assess Alternatives
Chapter 10: The Planning and Monitoring Process
Defining Processes
Components of a Process
Performance Management Processes and Tasks
Strategic Planning
Purpose
Tasks: Inputs, Outputs, and Sequence
People and Planning Models
Tactical Planning
Purpose
Tasks: Inputs, Outputs, and Sequence
People and Planning Models
Financial Planning
Purpose
Tasks: Inputs, Outputs, and Sequence
Forecasting
Purpose
Tasks: Inputs, Outputs, and Sequence
Management Reporting
Purpose
Tasks: Inputs, Outputs, and Sequence
Moving Toward Continuous Planning
Section 3: Implementing a Planning Framework
Chapter 11: Latest Developments in Planning and Analytics Technologies
Corporate Performance Management (CPM) Applications
The Rise of Business Analytics
The Next Competitive Edge
BI Versus Analytics Versus Decisions
Business Analytics, Big Data, and Decision Management
Predictive Business Analytics: The Next New Wave
Game-Changer Wave: Automated Decision-Based Management
Application Integration
Cloud-Based Applications
In-Memory Chip Technology
Chapter 12: Implementing the Planning Framework
Planning and the Role of the Chief Executive
Entrenched Beliefs Concerning Performance
Organisational Culture
The Unwritten Rules of Budgeting
Rewarding Bad Behaviour
Failure to Execute
Implementing Change
Agree on the Role of Planning
Model Existing Processes
Establish Improvement Themes
Plan-and Resource-Specific Change Programmes
Monitor Implementation
Use Technology to Support Change
Continually Develop the Planning Models Within the Framework
Appendix I: Cgma Budget and Planning Survey Results
Appendix II: Requirements of a Planning System
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