Event Description

Through a combination of theory and real-world examples, we will explore how to build flexibility into our budget -so that it can inform and drive decision-making when we don’t quite know what is ahead.

Objectives

• Recall the difference between a forecast and a budget
• Identify the difference between top-down and bottom-up budgeting
• State the key elements of a flexible budgeting approach
• Define key cost drivers
• State how behavioral biases may affect the budgeting process
• Identify how headcount efficiency may be measured
• Define scenario planning
• Recognize best practices and controls for managing budget changes