Continuous Forecasting & Strategic Planning

Date: 01/11/2010

Business doesn't stand still - keep your forecasts and strategic plans under constant review

If you want to know whether your forecasts and strategic plans are on the right track, keep them under constant scrutiny. That's the advice of Christopher Brown of WHK Horwath, who's a firm advocate of continuous review in both areas. He says they should be looked at on at least a monthly basis, because nothing remains constant in business, and if you're not ready to adjust to changes in the market your business will suffer. Continuous review means you can adapt quickly to movement in the market, take advantage of emerging opportunities, avoid outcomes which are no longer relevant and make the right decisions on investment. You'll also be able to measure quickly how your forecasts and plans are working out and make the necessary adjustments to keep your budget and future growth objectives on track.