Title: Plans cast in stone

When is your budget outdated? The day you write it. I have worked with creating budgets in large corporations and was amazed that we still adhered to the old way of allocating resources. Luckily there are individuals and companies  that have examined this under a magnifying glass and have changed the way they allocate resources.

I am proud to announce that my previous employer (Statoil) had a board decision to remove the budgets, and to implement event-driven resource allocation, target-setting, and prognosis updates. It is the business events that occurs externally that control our business environment-- not us setting the major routes for our businesses.

Author : Tor Inge Vasshus

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