How to Implement Quarterly Rolling Forecasting and Quarterly Rolling Planning – and get it right first time

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How to Implement Quarterly Rolling Forecasting and Quarterly Rolling Planning – and get it right first time

USD $250.00 USD $200.00

If your forecasting is a nightmare, of long nights, Excel spreadsheet error messages and praying that the resulting numbers are right you need to read this toolkit. This unique implementation toolkit comprise my latest thinking on the subject matter. The toolkit contains 100 pages designed to help readers to implement quarterly rolling forecasting.  The  toolkit comes with electronic media, eg: formats, templates, and workshop agendas to assist in a swift implementation. I have spent around US$50,000 developing and updating this toolkit. I guarantee, you will save many times the cost of the toolkit. Price in US Dollars.

Please click here to look inside the white paper.

Product Description

If your forecasting is a nightmare, of long nights, Excel spreadsheet error messages and praying that the resulting numbers are right you need to read this toolkit. This unique implementation toolkit comprise my latest thinking on the subject matter. The toolkit contains 100 pages designed to help readers to implement.  I have spent around US$50,000 developing and updating this toolkit. I guarantee, you will save many times the cost of the toolkit.

This toolkit sets out the foundation stones of a rolling forecast process and how to move from annual planning to a quarterly rolling forecasting process. The secrets of rolling forecasting & planning are revealed at last. In addition to the toolkit, you get a comprehensive set of e-templates for a fast start including check-lists, a “selling the change” Powerpoint presentation, and workshop materials.    Price in US Dollars.

Quarterly Rolling Forecasting (QRF) is the ‘hot topic’ at present as many accountants around the world are recognizing the flaws with annual planning and monthly re-forecasting. Re-forecasting the year-end position every month is flawed on a number of counts, it never looks further than year-end, each month the forecast changes creating number noise, the opportunity to set realistic reporting targets for the on-coming quarter is not utilized, the forecast model frequently is based in error prone Excel, and seldom do budget holders buy-in to the forecast as they were not involved in the forecasting process.

The good news is that, implementing Quarterly rolling forecasting is simple if you base it on solid foundation stones.

Quarterly rolling forecasting, typically going out 18 months at a time, can be a quick process. Less than 5 working days if it follows the “fast, light touch” philosophy developed from “winning finance” teams from around the world. This toolkit will show you “how to implement quarterly rolling forecasting – and get it right first time”. In addition the toolkit will show how QRF evolves into quarterly rolling planning (QRP), a process that will revolutionize any organization whether public or private sector!

It is being increasingly recognised that a planning tool is required for a forecasting and planning process. The stalwart Excel has now been extended beyond its intended boundaries with management accountants building monsters that are beyond any quality assurance programme, littered with logic errors hidden in the formula and designed without the big picture view.

Please click here to look inside the toolkit.

Why you need this toolkit:

  • To understand why QRF is the most important management tool of this decade and why the rolling forecasts of the past are a different beast to the 21st century QRF.
  • To build a model based on better practice in a modern planning tool or change an existing model to succeed.
  • Easy to use checklists & templates provided electronically – which can be in use immediately (See list below).
  • Understand the foundation stones of quarterly rolling forecasting
  • Understand how QRF evolves into QRP
  • Apply the checklists and templates designed to help you to implement QRF
  • Avoid the common implementation pitfalls
  • To help sell change to your management.

Table of Contents:

  1. Background………………………………………………………………………………… 4

1.1.      A burning platform………………………………………………………………….. 4

1.2.      History of annual planning………………………………………………………… 5

1.3.      Jeremy Hope- thought leader…………………………………………………….. 6

1.4.      The myths around annual planning…………………………………………….. 8

1.5.      Definitions…………………………………………………………………………… 10

  1. Introduction to quarterly rolling forecast process……………………………… 11

2.1.      What is a quarterly rolling forecast process?……………………………….. 11

2.2.      The process quarter by quarter for June year-end organisation………. 12

  1. The foundation stones of a rolling forecasting process……………………….. 13

3.1.      Abandoning processes that do not work…………………………………….. 13

3.2.      The QRF model should be built by in-house resources…………………… 14

3.3.      Separation of targets and realistic forecasts……………………………….. 15

3.4.      A quarterly process using the wisdom of the crowd………………………. 16

3.5.      Forecast beyond year-end (e.g., six quarters ahead)……………………. 17

3.6.      Monthly targets are set, a quarter ahead, from the QRF………………… 17

3.7.      A quarter-by-quarter funding mechanism…………………………………… 18

3.8.      The annual plan becomes a by-product of the QRF……………………….. 18

3.9.      Forecasting at category level rather than account code level………….. 19

3.10.       The QRF should be based around the key drivers………………………. 21

3.11.       A fast light touch (completed in an elapsed week)……………………… 21

3.12.       Built in a planning tool – not in a spreadsheet…………………………… 25

3.13.       Design the planning tool with four and five-week months……………. 30

3.14.       Invest in a comprehensive blueprint……………………………………….. 31

  1. The features of quarterly rolling forecasting…………………………………….. 33

4.1.      Recognise that it involves all Budget holders………………………………. 33

4.2.      Accurate revenue forecasting…………………………………………………… 33

4.3.      Bolt down your strategy beforehand………………………………………….. 37

4.4.      As much pre-work is done as possible by the forecasting team……….. 37

4.5.      Hold a briefing workshop instead of issuing instructions………………… 37

4.6.      Expand your forecasting help team…………………………………………… 37

4.7.      Enable monthly phasing for only the next 6 months……………………… 38

4.8.      Establish a Forecasting committee……………………………………………. 38

4.9.      Have one-page summary for each budget holder…………………………. 38

4.10.       Have trend graphs for every category forecasted………………………. 38

4.11.       Forecast personnel costs accurately………………………………………… 41

4.12.       Automate and standardize travel and accommodation costs………… 42

4.13.       Beware of the dangers of scenario planning……………………………… 43

4.14.       QRF roll-out 18 months not 12, 13 or 15 months………………………. 43

4.15.       Complete the forecast for the next quarterly before it starts………… 43

4.16.       Reporting the QRF to the Board……………………………………………… 44

4.17.       The redesigned month-end report………………………………………….. 45

  1. Selling change…………………………………………………………………………… 47

5.1.      Zaffron and Logan’s “The three laws of performance”…………………… 47

5.2.      Leading change by John Kotter………………………………………………… 48

5.3.      Learn to sell by using the emotional drivers of the buyer……………….. 49

5.4.      The elevator speech………………………………………………………………. 51

5.5.      Selling the need for a one-day focus group workshop……………………. 51

5.6.      Deliver a compelling burning platform presentation………………………. 52

5.7.      Pre-selling to an influential member of the decision team………………. 52

5.8.      Practise, practise, practise………………………………………………………. 53

  1. Sell the concept of rolling planning with a planning tool……………………… 54

6.1.      Step 1: Securing senior management team commitment………………. 54

6.2.      Step 2: Getting the green light from the influential sages………………. 55

  1. Build in-house team capability………………………………………………………. 57

7.1.      Step 3: Selection of a quarterly rolling forecasting project team……… 57

7.2.      Step 4: Project research, planning, and project team training………… 58

7.3.      Step 5: Completing your Blueprint……………………………………………. 59

  1. Buying the right planning tool………………………………………………………. 60

8.1.      Step 6: Commence acquisition of a planning tool…………………………. 60

8.2.      Step 7: Test planning tool applications & close the deal………………… 61

  1. Implementing quarterly rolling forecasting in a planning tool………………. 62
  2. Build and test the model……………………………………………………………… 63

10.1.       Step 8: Training of in-house designated experts……………………….. 63

10.2.       Step 9: Build the model based on the blueprint…………………………. 63

10.3.       Step 10: Pilot planning application on three business units………….. 71

  1. Rollout use of the planning tool…………………………………………………….. 72

11.1.       Step 11: Road show of new rolling forecast process…………………… 72

11.2.       Step 12: In-house experts roll out training………………………………. 73

11.3.       Step 13: Complete quality assurance………………………………………. 73

11.4.       Step 14: Commence first quarterly rolling plan run……………………. 73

11.5.       Step 15: Review process and ascertain lessons learnt………………… 74

  1. Lessons learnt when implementing QRF………………………………………….. 75
  2. Barriers to implementation…………………………………………………………… 80
  3. QRF immediate steps………………………………………………………………….. 82
  4. Writer’s biography……………………………………………………………………… 83

Appendix one: Examples of planning tool formats……………………………………. 84

Appendix two: Prospective project team members checklist……………………….. 87

Appendix three: Implementing QRF regime -checklist……………………………….. 88

Appendix four: Performing a quarterly rolling forecast – checklist………………… 93

Appendix five: The “planner tool supplier” evaluation checklist…………………… 95

Appendix six: Delivering bulletproof PowerPoint presentations……………………. 96

Appendix seven: The one-day focus group workshop………………………………. 100

 

Electronic Templates

  • Excel extracts from whitepaper
  • Forecast of last qtr and annual plan
  • Sales forecasting
  • Scoping document for implementing QRF in a planning tool
  • Selling a planning tool
  • Templates from whitepaper- Quarterly rolling forecast

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