The typical annual corporate budget process generally seeks to accomplish three things: (1) to provide a forecast of financial results, (2) to set a financial target, and (3) to allocate resources. In practice, using a single process, set of tools and outputs to meet these various objectives can put them at odds with each other. In Beyond Budgeting, similar to Lean, we work first to understand and clearly articulate our required outcomes, then design the process to meet those outcomes with minimal waste.
Beyond Budgeting is a principle-based philosophy and approach to evolving planning and control. In his talk, Mike will provide an overview of the principles, illustrate them with excerpts from a case study, and draw parallels to Lean principles and Lean management.
Mike De Luca: As principal of Torre Consulting, Mike works with companies to improve their financial management processes and develop the teams that support them. He applies Lean principles to evolve processes, make better use of the latent talent we have in our teams, and help analytical and office functions focus more effectively on work that makes a difference for the customer.
Mike has over 15 years of experience in Finance, most recently as Executive Director of Finance at Group Health, where he led a department of 25 directors, managers and analysts responsible for budgeting, forecasting, business analysis and reporting on operating divisions with an annual spend of nearly $3 billion. Mike also has over 10 years of experience bringing Lean principles to life in department and organizational processes and culture. While at Group Health, he led the Lean transformation of his own department, evolved the role of the department to meet the changing needs of a Lean organization, and co-led the Lean transformation of the Financial Planning process (also known as Beyond Budgeting) across the enterprise.
Mike is a featured speaker at conferences including the Lean Accounting Summit, Lean Healthcare Transformation Summit, and Beyond Budgeting Conferences.
6:30PM Food and Social Time, hosted by Marchex
7:00PM Main Program
* Announcements (jobs offered, jobs sought, upcoming Agile events)
* Main Event: Beyond Budgeting
8:30PM End Meeting