Budjetinhallinto
Budjetinhallinto is the Finnish term for budget management, the process of planning, allocating, executing, and controlling an organization's resources through budgets and forecasts. It covers budgeting, financial planning, performance monitoring, and reporting to ensure alignment with strategy and compliance.
The main purpose is to translate strategic goals into financial plans, support decision making, manage liquidity,
Core elements include budgeting (setting revenue and expense targets and capital allocations), forecasting (revised projections), variance
The budgeting cycle typically includes planning and target setting, budget preparation, consolidation and approval, execution and
Common approaches are incremental budgeting, zero-based budgeting, rolling forecasts, and performance budgeting, with variations between private
Roles include budget owners (department heads), the finance function (controller, treasurer), senior management, and auditors. Clear
Challenges include data quality, forecast accuracy, alignment with strategy, coordination across units, and change management. Best
See also Budget, Budgeting, Financial management, Variance analysis, Performance management.