K4

December 2, 2014

Rolling Forecasts: Replacing the Annual Budget

by Colin Quinn

Long gone are the days when annual budget steered business decisions, with only predictable, minimal changes. With increasing competition and a volatile economic environment, companies need a better way to predict the future. As a result, new forecasting techniques have emerged to help anticipate changes and drive better informed strategic decisions. Traditional forecasts take a structured approach to scoping uncertainties within a specific timeframe. Those predictions have a reasonable chance of being accurate. In today’s highly capricious GovCon environment, however, organizations are forced to be dynamic…