Learning Objectives
This webcast helps participants:
- Understand the building blocks to quarterly rolling forecasting
- Understand the difference between quarterly rolling forecasting and quarterly rolling planning
- Avoid the pitfalls of implementing a planning tool
Read David's article How to Implement Quarterly Rolling Planning -- and Get It Right First Time.
Program content
Quarterly rolling planning (QRP) removes the four main barriers to success that an annual planning process erects:
- an annual funding regime where budget holders are encouraged to be dysfunctional,
- a reporting regime based around monthly targets that have no relevance,
- a three-month period where management are taken away from making money; and
- the remuneration system based on an annual target.
The only thing certain about an annual target is that it is definitely wrong, it is either too soft or too hard for the trading conditions.
The critical building block for the QRP is the quarterly rolling forecast. This webcast explains why QRP is the most important management tool of this decade and why the rolling forecasts of the past are a different beast to the 21st century QRP.
This webcast covers:
- How QRP evolves from QRF
- Why we need to perform quarterly rolling forecasts
- The features of quarterly rolling planning
- How to implement a quarterly rolling forecasting on a planning tool--the lessons to learn
Participant level of understanding
This program is intended for participants with a basic or intermediate level of understanding on the topic.
About David Parmenter
David Parmenter is the CEO of waymark solutions. David specialises in assisting organisations measure, report and improve performance. Waymark helps organisations streamline their: month-end reporting and annual planning process, implement quarterly rolling planning, adopt the principles of beyond budgeting, develop decision based reports, and adopt performance measures that will improve performance.
David has worked as a senior consultant for Ernst & Young (previously Ernst & Whinney) - London and Wellington; as a project accountant for BP Oil Ltd, Wellington, and as an auditor for Arthur Andersen, UK and Price Waterhouse, NZ. David is a member of the New Zealand Institute of Accountants and is a fellow of the Institute of Chartered Accountants of England and Wales.
