Budget Projections in an Uncertain World: Dancing in a Storm

All we really know is the past but all that really matters is the future. Traditionally, the controller’s job focuses more on looking backwards while the CFO looks to the future to drive the organization forward--two different perspectives. Leaders depend on us to present a cogent and reasonably accurate forecast in order to make sound decisions. Whether we call our plans budgets, projections, forecasts or business plans, we are trying to predict the future without a magic crystal ball, tarot cards or a Ouija board. We will discuss ways to help make the best estimates we can, but there is one thing we know: We will be wrong! We will also examine the rapidly changing world we live in and how our organizations and how lessons from our collective past can help us find opportunities and adapt to our ever-changing environment.

At least six (6) months of professional financial statement analysis experience, or at least six (6) credit hours of corporate finance classwork at an accredited university. Experience with the budget process will be very helpful.

We will also examine the rapidly changing world we live in and how our organizations and how lessons from our collective past can help us find opportunities and adapt to our ever-changing environment.

•   Why our forecasts have been wrong so often and what we can do
•   Why our world is so unpredictable
•   Alternative approaches and techniques to improve the forecast
•   New analytical tools to deploy, including Big Data and AI
•   How to effectively communicate your forecast
•   How to change the thinking behind the forecast to improve accuracy
•   Where to look for better sources of information in your forecast
•   Should the forecast be complex?
•   Best practices in forecasting