登录查看更多内容

Last updated on 2024年6月2日

How do you balance budget monitoring with innovation and experimentation?

由人工智能和领英社区提供技术支持

Budget monitoring is a vital skill for any financial planning and analysis (FP&A) professional. It helps you track your spending, measure your performance, and identify any gaps or risks in your plan. But budget monitoring can also stifle your creativity and innovation if you are too rigid or conservative in your approach. How do you balance budget monitoring with innovation and experimentation? Here are some tips to help you find the right mix.

此文章中的业界达人

由社区从 6 条内容中精选。了解更多

Hope Makwali

Service Delivery Manager | Digital Transformation Specialist | Business Analysis; helping businesses use data and…

1 Set clear goals and metrics

Before you start any innovative or experimental project, you need to define what you want to achieve and how you will measure it. This will help you align your budget with your vision and avoid wasting money on irrelevant or ineffective activities. You also need to communicate your goals and metrics to your stakeholders, so they understand the purpose and value of your innovation and experimentation.

添加您的观点

Ramon Sanchez

Financial Analyst II at University of Miami
举报内容
Communication with stakeholders is not a one way street. Create the time and space for feedback. Allow yourself the time to develop a deep understanding of the operating factors that drive expenses. Talk to the key leaders involved in the day-to-day operations of your organization to gain a clear understanding of their budgetary needs while also giving yourself the opportunity to identify efficiencies that you might have otherwise missed if you were building your budget in a vacuum.

已翻译

赞

加载更多内容

2 Allocate a portion of your budget for innovation and experimentation

You can't expect to innovate and experiment without allocating some resources for it. You need to set aside a portion of your budget for innovation and experimentation, and treat it as an investment, not an expense. This will allow you to explore new ideas, test different scenarios, and learn from your failures. You can also use tools like scenario planning, sensitivity analysis, and contingency planning to estimate the potential impact and risk of your innovation and experimentation.

添加您的观点

加载更多内容

3 Monitor your progress and adjust your budget accordingly

Budget monitoring is not a one-time activity. You need to monitor your progress and adjust your budget accordingly throughout your innovation and experimentation process. You need to track your actual spending, compare it with your budgeted spending, and analyze the variance. You also need to review your performance, evaluate your results, and identify any lessons learned. This will help you optimize your budget, improve your efficiency, and enhance your outcomes.

添加您的观点

加载更多内容

4 Balance flexibility and accountability

Budget monitoring does not mean that you have to stick to your budget no matter what. You need to balance flexibility and accountability in your budget monitoring. Flexibility means that you can adapt your budget to changing circumstances, opportunities, or challenges. Accountability means that you can justify your budget decisions, report your results, and learn from your feedback. You need to find the right balance between flexibility and accountability that suits your innovation and experimentation goals.

添加您的观点

5 Collaborate with others

Budget monitoring is not a solo activity. You need to collaborate with others in your innovation and experimentation process. You need to involve your team members, managers, customers, suppliers, and other stakeholders in your budget planning, execution, and evaluation. You need to share your budget information, solicit their input, and incorporate their feedback. You also need to leverage their expertise, skills, and resources to support your innovation and experimentation.

添加您的观点

6 Celebrate your successes and failures

Budget monitoring is not a boring or tedious activity. You need to celebrate your successes and failures in your innovation and experimentation process. You need to recognize your achievements, reward your efforts, and showcase your impact. You also need to acknowledge your mistakes, learn from your failures, and embrace your growth. You need to celebrate your successes and failures as part of your budget monitoring culture.

添加您的观点

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Hope Makwali

Service Delivery Manager | Digital Transformation Specialist | Business Analysis; helping businesses use data and digital technologies to realize strategic goals and drive impact.
举报内容
An organization also needs to make it okay to fail. Unfortunately a lot of pressure is always put on teams to succeed wherever resources have been allocated (and rightly so as you just don't want to burn through those for no good reason). No innovation comes where failure is not welcome as a measure of success along that journey.

已翻译

赞
Carlos Roberto Kassai

Software: SBPL - Strategic Budget Plan | Plano Or?amentário | Custos | Pricing | Relatórios Gerenciais | Capacita??o em Controladoria e Finan?as
举报内容
Sabemos que equilibrar o or?amento podemos gerar inova??o. Em minha opini?o a gera??o do capital próprio está declinando, ou seja: tornando difícil aumentar a parcela para investimento de inova??o. O que tenho acompanhado é fortalecer nos demonstrativos o valuation da empresa, inclusive em Sustentabilidadade/ESG, permitindo com isso também inovar com capital de terceiro com taxas adequadas. Acompanho grandes grupos econ?micos com grandes dívidas de longo prazo, mas com sua gera??o suficiente de caixa para liquidá-las. Algumas empresas, que acompanho, têm disponibilidade de caixa livre capaz de amortizar anos de parcelamentos de dívidas dos recursos de terceiros. Capital de terceiro permite maior alavancagem!

已翻译

赞

Budget Monitoring

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How do you balance budget monitoring with innovation and experimentation?

1

2

3

4

5

6

7

1 Set clear goals and metrics

2 Allocate a portion of your budget for innovation and experimentation

3 Monitor your progress and adjust your budget accordingly

4 Balance flexibility and accountability

5 Collaborate with others

6 Celebrate your successes and failures

7 Here’s what else to consider

Budget Monitoring

给文章评分

感谢您的反馈

更多Budget Monitoring相关文章

更多相关阅读内容