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Overcoming the Twin Traps of Impact Bias and Focalism
In a previous blog we talked about how Impact Bias and Focalism and lead to some really bad decisions. In a nutshell, the problem is we so focus on our personal needs when it come to business decisions — like what budgeting system to buy – that our...
Changing the face of budgeting
I hate the word paradigm, don’t you? It’s been so over used, it hardly seems to have any real meaning left. But in fact it does have meaning — “A framework of understanding; a mindset based on a set of precepts.” The paradigm (don’t...
Getting the story behind the numbers
When I worked at Pepsi as a FP&A Manager it was drilled into our heads that our job was to “get the story behind the numbers” and be able to communicate that story intelligently. But what does getting the story behind the numbers really mean? The...
The role of leadership in Budgeting
I don’t often do this, but a colleague of mine sent me a short video from the last TED Conference that I wanted to share with you. It’s on leadership, and it’s by a brilliant guy named Derek Sivers. It’s short (3 min), funny, and makes some...
How to your involve your user community
The question of how to involve your user community in solution development is an important one; because the ultimate success or failure of any new system is wholly dependent upon whether or not it’s actually embraced by the user community… or rejected....
Should you involve your user community in solution development?
When I first moved to Ireland with Pepsi, I brought a lot of New York headquarters ways with me. Some good, some bad. But one of those ways was in how to develop solutions to vexing problems. The foundation of solution development was always the formation of a cross...
Budgeting: A Career Maker… A Career Breaker?
The reason why managing the budget process is a high wire act should be obvious. 1) Every corner of the organization is involved or impacted by the process in some way. 2) The process impacts people where it hurts – their wallets. 3) The most senior ranks of the...
Rolling Forecast. Part 3 – Assessment of Rolling Forecast
In part one of this series we looked at the common problems that organizations have with the annual planning/ budgeting process. Recognizing of course that most companies do forecasting as well, we looked at the annual planning process as a proxy for the processes...
Rolling Forecast. Part 2 – What is a Rolling Forecast?
Most of us know what a Forecast is, or you wouldn’t even be a reader of this blog. It’s a projection. But what makes a rolling forecast, well… rolling? That’s the heart of the matter and that’s where we want to focus our attention. A rolling...
