Join Todd Dewett for an in-depth discussion in this video Stretching the budget, part of Managing for Results.
- Few skills in the managers tool kit are more important…than being able to successfully…and consistently manage a budget.…Here's the hard part, it always seems like you need…a lot more budget than you actually have.…So it pays to learn how to stretch your teams dollars.…I'll share several specific tactics,…but the very first one provides your foundation.…That's regular budget and resource forecasts.…Just because a budget is created and disseminated…throughout the ranks once each year doesn't mean…you shouldn't revisit and update your part of the budget.…
Here is what we know about every budget ever made:…They are based on forecasts and forecasts…are approximations, they're educated guesses.…Every week, given how your work is unfolding…you have to think about the money you need,…the tools you need and the personnel you need.…Now, how often and with how much detail…you have to do this depends on where you work.…Sometimes elaborate tools are needed…and other times it's all on a scratch sheet of paper,…but do it weekly and share it with the team.…
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