good-bye annual budget. hello rolling forecast

world moving too fast to plan even a year ahead.

so an increasing number of companies are abandoning the age-old tradition of annual budgeting and adopting instead a system of constantly updated forecasts. they call them rolling forecasts, flexible budgets, or event-driven planning. but they aren’t annual budgets.

cfo.com  cites as examples: unilver, norton lilly international, statoil, and american century investments. “meanwhile, other companies continue to execute a budget but, for the most part, manage the business without it,” russ banham reports. “call it a sign of the times, literally.”