Financial Planning and Budgeting Survey

The AberdeenGroup’s recent survey regarding Financial Planning, Budgeting, and Forecasting offered some interesting observations regarding planning & budgeting processes and how companies are using these processes in these uncertain times. You can download a copy of this report from my website (www.dougneeper.com).

The three most interesting aspects of this report (to me), were:

-The % of best in class planning processes that finish their budgets before year end (68%)

-The % of best in class that have the ability to recast their budget on the ‘fly’ given changes in key variables (72%)

-Best in class budget accuracy as measured by the variance between budget and actuals (108%)

Retrospectively, Calpine measured up pretty well! It always struck me odd as P*B NEVER finished its budgets for the new year, prior to the end of the end of the old year.

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