How to Integrate Budgeting in the Strategy Process
Catherine Palin-Brinkworth, Business Consultant, Australia, Member
We need to establish initial traditional budgets at the outset of any new major projects or organisational start-ups, large or small. This is a baseline only. From then on, the strategy and intended value proposition must rule.
So the budget becomes a working tool, revised frequently for each division, project or entity, to serve guide and support the process, not to limit it.
As a continual discipline to make sure the costs are contained, but not to limit the goal achievement.