Budget planners: Play it safe

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in Leaders & Managers,Management Training

As you prepare your budget, confront ambiguities head-on. If your projections are shrouded in unavoidable uncertainties, be conservative. But don’t go overboard or you’ll lose credibility and undermine your ability to use the budget as a management tool. Arrive at reasonable figures by studying year-over-year trends, weighing each variable that can throw off your plans and seeking advice from a mentor.

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