Cycle time in days to complete the annual budget

This measure calculates the number of calendar days (including weekends) it takes to complete the annual budget. It is part of a set of Cycle Time measures that help companies analyze the duration of the process "perform planning/budgeting/forecasting" from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure Id:
100160
Total Sample Size:
3,911 All Companies
Performers:
25th
Median
75th
Key Performance
Indicator:
Yes

Compute this Measure

Units for this measure are days.

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Cycle time in days to complete the budget

Key Terms

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Cycle Time

Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.

Median

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (7.3.0)

  • 9.1.1.1 - Develop and maintain budget policies and procedures (10771)
  • 9.1.1.2 - Prepare periodic budgets and plans (10772)
  • 9.1.1.3 - Operationalize and implement plans to achieve budget (20135)
  • 9.1.1.4 - Prepare periodic financial forecasts (10773)
  • 9.1.1.5 - Perform variance analysis against forecasts and budgets (20136)