Join Rudolph Rosenberg for an in-depth discussion in this video Moving from forecast to plan, part of Making Business Projections.
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…Up 'til now we have discussed how to prepare a forecast or in other words,…a financial projection of the future performance of the company.…But we have not discussed how to transform that forecast into a financial plan.…Or in other words, a goal for the company.…As we discussed earlier in the course,…a forecast is a mathematical evaluation of what could happen to the of the company,…based on the information currently available to us.…
But to run a company,…you cannot merely let a spreadsheet tell you what is supposed to happen.…The forecast, should be a starting point,…of where the business is currently heading.…And on top of that plan, should be layered your goals, and…the result of the actions you're planning to take in order to…steer the performance of the company to higher grounds.…For a starting company, the business that will be…carried forward from one ear to the next, will be relatively small.…Most of the growth will be expected to come from business development actions.…
For more established companies,…
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- Forecasting vs. planning
- Dealing with exceptional elements
- Projecting revenue
- Adjusting for changes and seasonality
- Creating product-level projections
- Estimating costs and operating expenses
- Projecting gross margin
- Setting up targets and goals
- Developing worst-case scenarios<br><br>
- The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.