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Process Essay, 2 pages (300 words)

Expense forecasting process and the deliverables essay

Expense Forecasting Process and the Deliverables

The process involved in telephone expense forecasting consists of five steps. These steps are
1. Annual expenses of the current year analysis
2. Estimation of the current year’s annual expenses
3. Calculation of future year’s shared expenses
4. Calculation of future year’s direct expenses
5. Consolidating the future year’s information on calculations to provide a forecast of the future year (Lewis, 2000, p.30)
Contrives are managed and planned in order to ensure that the resources are available and ready when critical chain task must start. These subordinate all theother resources to the critical chain. The event chain methodology is helpful in mitigation of negative impacts caused by psychology biases and heuristics. It also allows easy modeling of the uncertainties in a business planning schedules (Albert, 2004, p.37).
The deliverables are prepared in spreadsheet and includes staffing direct charge estimates, shared rates calculations, usage changes in percentage and input for the financial budget of the business. The main goal for this is to make sure that there is an increase in the through put rate in a business. Hence applying the first three steps of the focusing steps, there would be a high probability of identifying all the business system constraints.
Event chain methodology is based on several principles, which include probabilistic risk moment, event chain, critical events, project tracking with events and event chain visualization. The initiating process determines the nature and scope of a project. If this stage is not well performed, it is likely that the project will not be successful in meeting of the business’s needs. Telephone forecasting overall process assumes that there has been monitoring and evaluation of the current year charges by the forecaster (Jörg, 2003, p.63).

References

Albert, H. (2004). Handbook of Project Management Procedures. TTL Publishing, Ltd
Jörg, B. M. (2003). Process management: a guide for the design of business processes.
Lewis, J. P. (2000). The Project Manager’s Desk Reference: A Comprehensive Guide To
Project Planning, Scheduling, Evaluation, And Systems. New York, NY: McGraw-Hill
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