Planning, Budgeting and Forecasting

Planning is a fundamental management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process: identifies the goals or objectives to be achieved, formulates strategies to achieve them, implements, directs, and monitors all steps in their proper sequence. Forecasting is a planning tool which helps management in its attempts to cope with the uncertainty of the future. It starts with certain assumptions based on the historical data stored in data warehouse, management's experience, knowledge, and judgment. These estimates are projected into the coming months or years using one or more techniques like Delphi method, exponential smoothing, moving averages, regression analysis, and trend projection. Since any error in the assumptions will result in a similar or magnified error in forecasting, the technique of sensitivity analysis is used which assigns a range of values to the uncertain factors (variables). A forecast (what 'might' happen) should not be confused with a budget (what 'ought' to happen). Budgeting is a process of expressing quantified resource requirements (amount of capital, amount of material, number of people) into time-phased goals and milestones. Planning, budgeting and forecasting are vital processes for almost all organizations. Understanding past performance and translating that insight into forward-looking targets to align business results with the corporate strategy is key to driving shareholder value. Leading organizations shift from traditional annual budgeting cycles into a rolling forecast focused on managing the enterprise's performance.	Why CRMT CRMT has a differentiated perspective on the value of the planning process. Our methods, tools and deep skills allow us to work with companies to develop, implement and optimize planning models, improving both the efficiency and effectiveness of critical planning, budgeting and forecasting activities.
	Technologies Tagetik
	Selected Customers Mladinska knjiga založba d.d. Pharmaswiss d.o.o. Telekom Slovenije d.d. Zavarovalnica Triglav d.d. HSE d.o.o. Sava Reinsurance Company