Speech Abstract

Service costing, activity-based budgeting, zero-based budgeting, portfolio management, strategic alignment, asset management, expense management, service management, performance management, total cost of ownership, compliance, chargebacks, benchmarking, benefits measurement....

All these buzzwords represent important financial management processes. But implementing them in the wrong order is likely to lead to disappointing results. If you're missing critical prerequisites, the process won't work. If you're missing key dependent processes, the benefits will be limited.

This session reveals the big picture — how all the pieces of the puzzle fit together. The big picture is built step-by-step, from the basic cycle of budget planning, to spending decisions, to budget tracking, to performance improvement and strategy. The linkages between the components define the prerequisite and dependent processes. And when you step back and look at the big picture, you'll be comfortable with your understanding of every element within it.

This bird's eye view suggests what must come before what (the interdependencies), where the big payoffs are, and how each of these sub-processes must be designed to fit together in order to add up to a comprehensive resource governance system. It will help you develop your own unique strategy for evolving your financial management processes, as well as the requirements at each step to ensure that everything fits together in the end. It will make you both a visionary and a pragmatic implementor of financial processes.

100-word version....

50-word version....

Outline

• The context: beyond accounting, internal market economics

• The basic money cycle: budget planning, spending decisions, budget tracking

• The business plan, budget, and rates needed to make it work

• The role of asset management

• Off-shoots: expense management, compliance, metrics, benchmarking, process improvements

• Closing the loop: business and service strategy

• Fine tuning: benefits measurement, total cost of ownership

• Where to start and what to do

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