Forecasting and Budgeting with Advanced Modelling Techniques

Forecasting and Budgeting with Advanced Modelling Techniques

Course Objectives
By the end of this course, participants will be able to:
• Understand the principles and importance of forecasting and budgeting in organizational planning.
• Apply advanced modelling techniques to create accurate financial forecasts and budgets.
• Leverage tools such as Excel, Power BI, and other financial software for data analysis and visualization.
• Develop dynamic budgeting models that adapt to changing business conditions.
• Interpret and utilize statistical and predictive analysis for strategic decision-making.
• Align financial forecasts and budgets with organizational goals and performance metrics.

Course Content

Introduction to Forecasting and Budgeting
• Importance of forecasting and budgeting in strategic planning.
• Key differences between forecasting, budgeting, and financial planning.
• Overview of tools and techniques in financial modelling.
Advanced Forecasting Techniques

• Understanding time-series analysis and trend projection.
• Regression analysis and its application in financial forecasting.
• Scenario analysis and stress testing for business resilience.
• Incorporating external variables (economic indicators, market trends, etc.) into forecasts.
Advanced Budgeting Approaches

• Zero-based budgeting vs. traditional budgeting.
• Activity-based budgeting for cost efficiency.
• Rolling budgets and continuous planning for dynamic businesses.
• Linking budgets to performance metrics and KPIs.
Financial Modelling Tools and Techniques
• Building dynamic models in Excel using advanced formulas and functions.
• Introduction to Power BI for budgeting and forecasting.
• Macros and VBA for automating financial modelling processes.
• Using Monte Carlo simulations for risk assessment and probability forecasting.
Data Analysis for Forecasting and Budgeting
• Data sourcing, cleaning, and preparation for accurate forecasts.
• Statistical tools and techniques for analyzing financial data.
• Data visualization techniques for presenting forecasts and budgets.
• Integration of machine learning techniques in predictive modelling.
Implementation and Monitoring
• Best practices for implementing forecasting and budgeting processes.
• Tools and methods for monitoring budget adherence and forecast accuracy.
• Techniques for variance analysis and corrective actions.
• Building a feedback loop for continuous improvement in forecasting and budgeting
DATE:
1ST BATCH:        28th – 30th Apr, 2025     

2ND BATCH:       11th – 14th Nov, 2025