Financial Modelling CHAPTER 3: BUDGETING The difference between a forecast and a budget A business forecast is an estimate of the likely position of a business in the future‚ based on past or present conditions. However‚ a budget is a statement of planned future results which are expected to follow from actions taken by management to change the present circumstances. Budgets as tools for planning and control Planning Managers are responsible for planning and controlling a business for the benefit
Premium Balance sheet Budget Income statement
Project Status Report Template This Weekly Project Status Report Template is free for you to copy and use on your course project. Project Status Report Project Title: ___________________ Week ending: ____________________ Project Status Summary Percent Complete: ___% (approximate) Scope Schedule Cost Risks Quality Provide a quick executive overview of the status of the project in this section It is intended for high level management so it should not get too much into the details
Premium Project management
Capital Budgeting Methods for Corporate Project Selection In a 2001 Graham and Harvey survey of 392 chief financial officers (CFOs) asked “how frequently they used different capital budgeting methods?” Approximately 75% of the CFOs replied that they use net present value (NPV) or Internal Rate of Return (IRR) always or almost always (Smart‚ Megginson & Gitman‚ 2004‚ pg. 251). Projects are viewed as capital investments in the corporate world‚ and as such‚ are evaluated closely for their possible
Premium Net present value Internal rate of return
SPE-152022-PPSPE-152022-PP on Sour Gas Development Project Case Study Copyright 2012‚ Society of Petroleum Engineers This paper was prepared for presentation at the SPE International Production and Operations Conference and Exhibition held in Doha Qatar‚ 14–16 May 2012. This paper was selected for presentation by an SPE program committee following review of information contained in an abstract submitted by the author(s). Contents of the paper have not been reviewed by the Society of Petroleum
Premium Risk management Project management Risk
MIND MAP PROJECT MANAGEMENT PROFESSIONAL PROJECT MANAGEMENT PROFESSIONAL document issued by the project initiator or sponsor authorizes the existence of a project Project Charter provides the project manager with the authority to apply organizational resources to project activities the document that describes how the project will be executed monitored‚ and controlled any unique and verifiable product‚ result‚or capability to perform a service that is required to be produced to complete a process
Premium Project management
Capital Budgeting Introduction Capital budgeting decisions are the most important investment decisions made by management. The objective of these decisions is to select investments in real assets that will increase the value of the firm. (Kidwell and Parrino‚ 2009) Project Classification Types * Replacement projects are expenditures necessary to replace worn-out or damaged equipment. * Cost reduction projects include expenditures to replace serviceable but obsolete plant and equipment
Premium Net present value
Life of a Project Manager 1. How effectively do you think Rachel spent her day? Project is a complex‚ non-routine‚ one time effort that is limited by time‚ budget‚ resources and performance specifications and it’s implemented to meet the customer requirements. The following activities performed by Rachel are project related: a. Review project reports and prepare for the weekly status meeting – 25 min b. Participate in the progress review meeting – 45 min c. Reviewing project assignments
Premium Project management Management
Chapter 9: Budgeting Discussion Questions 9.1 State the different types of budgets that may be prepared. Different budgets include: sales or fees budget; operating expenses budget; production and inventory budgets; budgeted income; cash budget; budgeted balance sheet; and the capital budget. P9.7 Preparation of receipts from debtors schedule and cash budget Ken Martin‚ manager of Lonnie Car Repairers‚ has requested that you prepare a cash budget for the months of December and
Premium Variable cost Costs Contribution margin
September 29‚ 2013 Estimation Paper In our group we have me‚ Kelip and J.R.‚ and individually we both played our separate parts. Even though we did not have a perfect time to really meet up because of unscheduled events‚ I still think we managed to work as a team. To start off‚ the question that we chose to find an estimation answer on was “How many softballs can fit in our lecture room?” The first couple of class time was spent on J.R. and Kelip measuring the walls and indents of the classroom
Premium Length Inch Volume
Some people believe that managing a project is something easy and that a project manager’s job is not that difficult. But what they do not know is that managing a project can be really difficult. In order to become a good project manager you need to have some characteristics such as a strong technical background‚ hard-nosed manager‚ mature individual‚ someone who is currently available‚ someone on good terms with senior executives‚ a person who can keep the project happy‚ one who has worked in several
Premium Management Project management Project