CAM-I

The Closed Loop

$20.00 each


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Although current budgeting practices and processes have many problems, the budget is here to stay.

Implementing Activity-Based Planning and Budgeting  

Although current budgeting practices and processes have many problems, the budget is here to stay.

The Closed-Loop Model reflects a powerful new budgeting approach that speaks to many of the problems associated with traditional budgets and budgeting processes while relating and enhancing the benefits obtained from the process.

This book contains many examples of applications of the Closed-Loop Model in a variety of industries. For competitive and confidentially reasons, none of the organizations have been named, although the concepts and lessons learned are incorporated throughout.

While this book is intended for manager and executives with responsibilities for organizational budgets, we firmly expect that managers in operating functions will find the Closed-Loop Model as useful as those in financial functions.

But why read this book? After all, in today’s literature, one finds strong advocates of simply eliminating the periodic budgeting process and the detailed budget which results. We do no believe that such a solution is either viable or practical for the overwhelming majority of organizations, and therefore the budget is likely here to stay.

The Closed-Loop Model reflects a powerful new budgeting approach that speaks to many of the problems associated with traditional budgets and budget processes while retaining and enhancing the benefits obtained from the process. At a minimum, the Closed-Loop Model can supply an improved calculation engine for, and extend the operational relevance of, a traditional budget process. However, an organization will only obtain the full benefit of using the Closed-Loop Model by restructuring the performance evaluation system so that the operating and financial metrics are in harmony with those used for performance measurement. Following that path will also support an organization as it strives to improve the integrity and accuracy of its financial planning and budgeting processes, and integral component in performance measurement and reporting.

This book provides guidance for achieving the maximum benefit from the budget process.

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