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Forecasting Quality

Playing Golf in the Dark

Golf in the DarkBy Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

About the only thing that everyone seemed to agree on in my old company was that forecasting was really important and that our forecasts were poor. But when I asked people how they knew that they were no good I got a variety of answers rather like the one a judge once gave when asked to give a definition of pornography: ‘I know it when I see it”.

FP&A: Learning to Love Risk

black SwanBy Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

If measurement – or the lack of it – is the biggest weakness in most forecasting processes, risk is the least well understood concept…mainly because it is something that we think we understand, but we don’t.

Hitting the Target but Missing the Point - Myths about Target Setting

By Bjarte Bogsnes, Vice President Performance Management Development at Statoil

The world of management is full of myths and rituals. Many seem to have been with us forever, often explained and justified as “we have always done it like this”. Some have a shorter history, often introduced because “everybody else is doing it”.

Rolling Forecast – Case Study: A Review Of Management

By: Richard Reinderhoff, Freelance Consultant Strategy & Operations

A rolling forecast is not only about seeing the future unravel, but a constant evaluation of the management team to see if they are able to adjust their operations on time. Without it, any form of strategic planning becomes useless. Below you find a real-life case. Step-by-step each question will be briefly discussed. It is about a foreign business unit, which was part of a large European corporation, on the brink of a crisis.

Navigating in Turbulent Times: The secret of effective forecasting and how to use it to make your business more agile

By Steve Morlidge, Business Forecasting thought leader, author of "Future Ready: How to Master Business Forecasting" and  "The Little Book of Beyond Budgeting" 

In this article, Steve Morlidge, author of "Future Ready: How to Master Business Forecasting"argues that the quality of business forecasting – used to steer an organisation – is unacceptably poor. He goes on to present six simple principles that will help executives significantly improve the performance of their forecast processes. More reliable forecasts speed up decision making and so help make businesses more agile.

 

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