Planning, Forecasting and Budgeting (London, United Kingdom - June 7-8, 2018)

  • ID: 4395109
  • Conference
  • Location: London, United Kingdom
  • 2 Days
  • Management Forum
  • Conference Dates: June 7-8, 2018
1 of 5
A Two-Day Programme about the Techniques Used to Check that your Business Plans are Financially Viable

This two-day course provides techniques for checking that your business plans and strategy are financially viable. It describes seven techniques that between them improve the accuracy of any forecast you have to make. It also shows how to budget and how to convert the business plan and the short-term forecasts into a financial statement of expected revenues and costs.

What this course will cover  

This two-day course assumes that you already have a business  strategy and outlines some techniques for creating business plans that are aligned with this strategy. It provides techniques for checking that the plans - and hence the strategy - are financially viable. The programme also describes seven techniques that between them improve the accuracy of any forecast you have to make. It highlights how budgeting can convert the business plan and the short-term forecasts into a financial statement of expected revenues and costs. If you are responsible for a business plan or strategy this is a must-attend programme.              

Over two intensive days you will develop the skills to:

  •  Create strategic business plans
  •  Build tangible improvement plans
  •  Apply the seven key forecasting techniques
  •  Understand the link between forecasting and cash flow
  •  Improve budgets to accurately reflect business strategy
  •  Track performance and use budgets to manage effectively

Course objectives

  • Participants attending this programme will learn how to:
  • Translate strategy into results
  • Generate a business plan that drives organisational activity
  • Increase the accuracy of forecasting
  • Ensure realistic forecasting
  • Allocate appropriate resources
  • Set budgets that are quicker to create, encourage the right behaviours and add value
  • Identify and manage key risks, and reflect them in the budget
  • Avoid the weaknesses of conventional approaches to budgeting

Above all, this programme will show you how strategy, business planning, forecasting and budgeting should fit together and support one another - and how to make this happen in your own organisation.

INCLUDES:  Practical and interactive exercises

Note: Product cover images may vary from those shown
2 of 5

Day One

09.00      Registration and refreshments
09.30      Introduction to the seminar
09.40   Creating business plans from the strategy
- What the strategy has to embrace and describe if  it is to be capable of conversion into plans
- Techniques for translating strategy into plans -  positioning and capability; strategy maps
- The strategy tree - a technique for:
ensuring that plans are robust and complete
making clear the link between high level 
strategic aims and detailed budget holder plans identifying the high priority plans so that they  can be implemented through adequate  resourcing and close monitoring
11.15  Refreshments
11.30  Plans to improve business-as-usual
- Methods for building tangible improvement plans into the budget rather than unsubstantiated  promises:
identifying opportunities to do more core, value-adding work at the expense of less valuable or diversionary tasks 
tuning the value delivered to the needs of  customers, both internal and external removing waste from business processes
13.00    Lunch
14.00 Forecasting
- Seven forecasting techniques and where they can usefully be applied
- Key elements of a successful forecasting process:

  • involving all the key players to help reach a realistic forecast
  • identifying and providing relevant data
  • recording assumptions and choices
  • avoiding distortion caused by incentives

- The importance that timing plays in forecasting events and cash flow
15.30 Refreshments
15.45  Risk
- How to assess the risks associated with forecasts, plans and the budget
- Drawing up plans for avoiding, monitoring and mitigating risks - the risk register
- Integrating risk management into the standard control
17.15   Close of day one

Day two

09.00 Refreshments
09.30 The conventional annual budget
- What do we mean by the conventional annual budget?
- Its perceived weaknesses, such as giving poor  value; slowing reactions when we need to respond rapidly; forcing same-as-before when  we should be more radical  

10.15  One solution to theconventional budget: stop budgeting!
- Benefits claimed for this radical approach
- What would go in the budget’s place? - Case study: Svenska Handelsbanken
- What might finance do instead of budgetingto add yet more value?
11.15   Refreshments
11.30     Ways to improve the budget
- Rolling forecasts and budgets
- Ensuring the budget reflects the strategy
- timing: reviewing the strategy just before
- setting the budget
- how continuous budgeting helps the timing
- Making sure that plans for change - both their costs and their impact - are fully integrated in the budget
- Improving the budget-setting process
- getting the high-level budget broadly right  before plunging into detail
- Activity-based budgeting
- understanding how costs are driven in order to model the finances of the organisation and create rapid revisions
13.00      Lunch
14.00   Using the budget to manage effectively
Incorporating business plans accurately in the budget
Incorporating business-as-usual in the budget
15.15 Refreshments
15.30    Getting effective budget accountability
- The nature of accountability
- Identifying the underlying reasons for variances
- Making budget reviews effective
- picking the key performance measures for tracking progress
- the importance of measuring outputs as well as inputs in reviewing performance
- reporting performance and having a robust process for doing something about deviations from plan
17.00 Summary and final questions
17.15  Close of course

Note: Product cover images may vary from those shown
3 of 5


4 of 5
  • David Baines Mr David Baines,
    Director ,
    Freeman Baines Consulting

    David Baines is a Director of Freeman Baines Consulting. He holds a degree in Electronic Engineering from Imperial College, London, and an MBA from the London Business School. After a career in BT he moved into consulting, becoming a partner in a major UK firm beforeestablishing his own consultancy. In addition to consulting, David develops and presents courses and workshops on a range of topics, some of which are listed below. He uses his consulting experience to ensure that the contents are anchored to approaches that work in practice and that they include the latest trends in management thinking and techniques. Until its closure in April 2012, he was an Associate of the National School of Government, working in the fields of Organisational Development, Management Development and Skills and Managing Change. He has written several management handbooks and is credited with many articles in management journals.

Note: Product cover images may vary from those shown
5 of 5
  • Middle and senior managers with commercial responsibilities
  • Business unit heads
  • All those responsible for planning, forecasting and budgeting
  • Senior managers who need to know more about budgeting and forecasting without having to know the intricacies of company finance
Note: Product cover images may vary from those shown
6 of 5


Rembrandt Hotel
11 Thurloe Pl,
United Kingdom


The Rembrandt Hotel is located at 11 Thurloe Place, London, SW7 2RS. The hotel’s location in central London couldn’t be better, whether you’re travelling for business or leisure. You’ll be right between two of London’s most fashionable areas – South Kensington and Knightsbridge – within walking distance of museums, theatres, Harrods and Hyde Park.

You can hop on the Tube at South Kensington and take the District, Circle or Piccadilly lines direct to the City of London, Heathrow Airport and all other areas of the city. Look out of your window and you may well see the Victoria and Albert Museum – it’s right across the street.

Note: Product cover images may vary from those shown