We all make predictions in our personal and professional lives. We base our decisions to marry, buy a house, launch a new product or hire staff on expectations about the future. How can we use best practices and current research to improve our ability to predict the future?
This seminar will examine current best practices in forecasting to help us prepare better budgets and projections. We will also examine budgeting pitfalls and ways to avoid budget traps. We will discuss the risks that cause actual results to vary from our predictions and discuss methods to deal with both known and unknown risks.
DESIGNED FOR
This series is for people who are, or aspire to be, chief financial officers. The discussions will be most appropriate for people in medium-sized organizations.
BENEFITS
- Prepare better budgets and projections
- Improve ability to predict events
- Improve budgeting process
HIGHLIGHTS
Making Predictions
We all make predictions in our personal and professional lives. We base our decisions to marry, buy a house, launch a new product or hire staff on expectations about the future. In the past few years, research into improving predictions has advanced. We will look at this research and current best practices in forecasting to help us prepare better budgets and projections.
Becoming a Great Predictor
Imagine being able to see into the future with confidence. The ability to be a great forecaster is not innate but learned. By examining great forecasters, we can learn to improve our ability to predict the future. We will examine best practices and current research to improve our ability to predict events that will affect our business.
Creating Great Projections and Budgets
Like going to the dentist or running on a treadmill, we know our organization’s budgeting process is good for us even though most of us dread the process. However, if we truly understand why budgeting is so important, it becomes both easier and less terrifying. This session will examine budgeting pitfalls, ways to avoid budget traps look at ways to improve the budgeting process through better measurement and reporting.
Why Black Swan Risks Matter
We can never perfectly predict the future. This session examines the risks that cause actual results to vary from our predictions. Often the greatest risks to our businesses are from risks we cannot possibly know. This session will look at both knowable and those unknown risks and discuss methods to deal with both known and unknown risks.
COURSE LEVEL
Intermediate
PREREQUISITES
Management experience helpful.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
**NOTE** Bring a calculator.
Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.