Budgets, Operating Plans, and Forecasts.

  There is an associated Excel template on On-Demand Business Outlook (DBO). Requirements: Assume your CFO assigns you to engage in determining sensitivity to critical business drivers which face your organization. Use the DBO template from Chapter 13 provided and modify suitably. • Understand the difference between budget and operating plan • Based on situational analysis, develop a game plan for the coming year. The current uncertainty due to Covid-19 provides a realistic backdrop to projections. • Develop preliminary financial projections. • Identify critical assumptions • Develop process for on-demand business outlook / rolling forecasts • Identify critical business drivers (such as 80/20 rule)