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Forward Planning is used in conjunction with business forecasting, current economics Vs. "Where do we want to be in ## years/months etc?", and situation management to create a business or political plan that will either be initiated gradually over a set period, or at the very least, will not be initiated until a certain time, or certain circumstances are met. It is a strategy to ensure that critical decisions can be prepared long before there is a situation that will require it, and is generally based on the assumption (and forecast) that there will eventually be a situation that requires it.
Here is an example:
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Joe Blog Enterprises has won 3 major widget projects. Let's call them 1, 2 and 3.
Currently projects 1 and 2 utilize all the resources that Joe Blog has. Project 3 has a deadline that is later than 1 and 2, but it is cutting a fine line.
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Forward planning will be used here to create a process, and timeline for the project that will be started, and continue at specific deadlines where resources are planned to be freed up by the completion of stages within project 1 and/or 2.
Normally, a business should only have to make about 15% of critical decisions on the fly, and 85% in preparation.
Without Forward Planning, businesses would have to make ALL critical decisions on the fly, leaving no room for growth and development planning.
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∙ 10y ago
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Characteristics of control process?
One characteristic of control process used in management is that it is forward looking. Each level of an organization has control and a control process that is a continuous process linked to planning.
The key aspects of the financial planning process are?
Cash planning and profile planning
Why is planning important to the firm?
Planning is not only important to the firm but it is important for individual too. Planning is important to estimate tasks and resources available. Planning is important in prioritizing among multiple tasks. Planning is important in estimating final output. Planning is important in estimating time period to achieve target.
What should be an important part of planning your future?
retirement planning A+ ;)
What is the formula for calculating forward FX?
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What type of planning looks forward to where you want to be in the future?
forward
Which type of planning with where you are now it time?
Forward planning begins with where you are now in time.
What type of planning begins with you are now it time?
Forward planning begins with where you are now in time.
Which type of planning begins with where you are now time?
Forward planning begins with where you are now in time.
What type of planning begins where you are now it time?
Forward planning begins with where you are now in time.
Which type of planning begins with where you are now it time?
Forward planning begins with where you are now in time.
Why Planning is Looking forward and controlling is looking backward?
To what extent is planning 'backward looking'
Planning is Looking forward and controlling is looking backward?
To what extent is planning 'backward looking'
What type of planning begins with where you are now it time?
Forward planning begins with where you are now in time.
Which type of planning begins with where you are now in time?
Forward planning begins with where you are now in time.
What are the two method used in military planning?
The two most common methods used in military planning are forward planning and backward planning.
What are two method used in military planning?
The two most common methods used in military planning are forward planning and backward planning.
