Timeline for team-based forecasting

These are rough numbers, for an inexperienced team in a large company.

• Organizational meeting - an hour
• Assess the market - Eight to ten weeks working part-time
• Purpose, Vision, Options meeting - two to three days, off-site
• Assess the options, estimate costs - three to five weeks
• Best options, coordination meeting - one day
• Finalize action plans, budget inputs - two weeks

Considerations

There maybe an addition meeting to identify the best option before presenting the strategy to the boss.

If you engage a consultant to do the research, there is usually more time required to bring them up to speed.

The Budget Meeting

Key Points