by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"
In this article, the author reveals the top 8 measures for any performance management system.
In summary, don’t just choose any old measure because it’s available or use a measure because someone else is using it. Instead, choose measures because of the value it brings to the management of performance
How should the role of chance influence the work of FP&A practitioners?
Intentions may lead to results that were not intended. There are times in which good intentions may lead to bad results or an idea that is designed to accomplish one task may succeed by performing a completely different task. As a result, FP&A practitioners should recognize the role of chance in FP&A.
By Randall Bolten, longtime Silicon Valley CFO, author of "Painting with Numbers: Presenting Financials and Other Numbers So People Will Understand You” and adjunct professor at U.C. Berkeley Extension
Is there anything about your graph that might cause your audience to question your agenda or even your honesty?
Why is it that graphs are so much more likely than tables are to provoking audience suspicion about your agenda? First of all, the whole point of a graph is usually to emphasise a single, critical point you’re trying to make. Your audience may be acutely aware that you’re in “persuade” mode, so be careful about appearing to oversimplify a complex problem or cherry-pick your data. Second, graphs offer an immense range of choices, including axis scaling, chart types, color and other visual effects, and much more. Each one of those many choices can send its own meaning to your audience. So be careful out there!
Is it realistic to completely abandon the budget? How can Rolling Forecast help with going "Beyond Budgeting"?
At one of the London FP&A Board meetings, a case study from Maersk Group was presented about how the shipping, transport and oil firm has benefitted.from Rolling Forecast and going Beyond Budgeting.
“We’ve abolished the annual budget completely and only use rolling forecasting (RF) now,” said Matthijs Schot, head of performance & analysis at AP Moller Maersk, as he shared his company’s implementation four years ago of an RF process and the lessons they’ve learnt.
By Luke Clark, the Senior Content Manager Asia-Pacific for Michael Page.
This Michael Page interview with Larysa Melnychuk, CEO and the founder of FP&A Trends and International FP&A Board gives an overview on the evolving role of modern Financial Planning and Analytics (FP&A) globally. The interview was given during Larysa's travel to APAC region for the FP&A Board meetings and reveals five factors that changing global FP&A