Number of budget versions produced before final approval

This measure calculates the approximate number of budget versions that are produced during the budget cycle before approval of the final budget. It is part of a set of Process Efficiency measures that help companies optimize their "perform planning/budgeting/forecasting" process by minimizing waste and refining resource consumption.

Benchmark Data

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Measure Category:
Process Efficiency
Measure ID:
100892
Total Sample Size:
1,488 All Companies
Performers:
25th
-
Median
-
75th
-
Key Performance
Indicator:
No

Compute this Measure

Units for this measure are budget versions.

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Number of budget versions produced before final approval

Key Terms

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Process efficiency

Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.

Measure Scope

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Cross Industry (7.3.1)

  • 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)