Beyond Budgeting

Part 4: Beyond Traditional Budgeting This post is part of my “learning in public” journey as I transition into my role as a finance manager. All concepts and frameworks are attributed to their original creators, primarily David Parmenter and other thought leaders in the field. The Problem with Traditional Annual Budgets Most organisations still cling to the annual budgeting process despite mounting evidence of its ineffectiveness. As David Parmenter points out in his book “The Financial Controller and CFO’s Toolkit,” traditional budgets often become outdated shortly after completion due to rapidly changing business conditions. ...