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How to Make Budgets and Forecasts while dealing with Uncertainly

person icon Manish Gupta


How to Make Budgets and Forecasts while dealing with Uncertainly

Best practices to incorporate uncertainty in financial planning and budgeting process

updated on icon Updated on Feb, 2024

language icon Language - English

person icon Manish Gupta

category icon Business,Business Strategy

Lectures -28

Duration -4 hours



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Course Description

Uncertainty can take many forms. It may manifest as a natural disaster, the deterioration of a foreign currency in which your company has operations, geopolitical changes, the merger or acquisition of a competitor, or a global pandemic. Regardless of form, uncertainty does illuminate a certain truth: companies must face volatile business conditions with nimble planning, budgeting, and forecasting.

Most companies find budgeting a challenge even under stable conditions. The process is often cumbersome, with managers spending too much time trying to work to a budget that is forced upon them. When economic forecasts fluctuate on a weekly or even daily basis, creating one reliable budget to coordinate business units and track performance for an entire fiscal year is extraordinary. Following the traditional budget process will likely prove unproductive.

You should listen to this talk as the speaker is a finance expert with over 15 years of experience in managing budgeting processes and speaks at conferences on various business and finance subjects.

In this talk, we will discuss how we can follow an efficient approach to making budgets during uncertainty

With this talk, you will be able to

1. understand challenges faced during budgeting and forecasting during current uncertain times

2. Strategies to make an effective budget during uncertainty

3. Best Practices

You will need to have a basic understanding of the budgeting process for which you can take my other course published on the platform.

Who this course is for:

  • Financial planning professionals
  • budgeting and forecasting professionals
  • CEOs


What will you learn in this course:

  • understand challenges faced during budgeting and forecasting during current uncertain times

  • Strategies to make effective budget during uncertainty

  • Best Practices in dealing with uncertainties during budget and forecasting

  • Under what causes uncertainties


What are the prerequisites for this course?

  • Basic Understanding of budgeting and forecasting.

  • you can go through my other courses for basic understanding

How to Make Budgets and Forecasts while dealing with Uncertainly


Check out the detailed breakdown of what’s inside the course

How to Make Budgets and Forecasts while Dealing with Uncertainly
28 Lectures
  • play icon Introduction to the course 01:14 01:14
  • play icon Why we do budgeting 05:53 05:53
  • play icon Course Curriculam and what we will cover 01:52 01:52
  • play icon How to Make Budgets and Forecasts 01:51:34 01:51:34
  • play icon Paper Excercise or we can use budgeting to be useful 06:14 06:14
  • play icon Two Key Budgets and What They Contain 05:17 05:17
  • play icon Pre requirements of budgeting 03:55 03:55
  • play icon Sugguestive process of budgeting 04:48 04:48
  • play icon Three key components of budgets 08:33 08:33
  • play icon Practical process of budgeting forecasting 09:36 09:36
  • play icon Basis of revenue budgeting 05:28 05:28
  • play icon Revenue budget information needed and sugguested methology 03:53 03:53
  • play icon Revenue budget practical example 03:51 03:51
  • play icon Estimating the overall impact of revenue and setting up limits 02:28 02:28
  • play icon Cost and expenses budget information need and sugguested methodlogy 08:16 08:16
  • play icon Labour cost budgeting 05:04 05:04
  • play icon Other expenses budgeting process 03:28 03:28
  • play icon Capital expenditure budgeting 05:03 05:03
  • play icon Qualitative aspects of budgeting 03:30 03:30
  • play icon Marketing budget 03:34 03:34
  • play icon Introduction to course budgeting forecasting during uncertainty 03:19 03:19
  • play icon Causes of uncertainty in budgeting process 04:25 04:25
  • play icon Change the purpose of budgeting 03:42 03:42
  • play icon Budgeting for strategic success 04:01 04:01
  • play icon Keys aspects of strategic budgeting 05:08 05:08
  • play icon How often and how far we should do the forecasting and budgeting 06:25 06:25
  • play icon Principals of business planning during uncertainty 05:08 05:08
  • play icon Alternatives to traditional annual budgeting excercise 06:34 06:34

Instructor Details

Manish Gupta

Manish Gupta

Hospitality Finance Expert and Business Strategist

Mr Manish Gupta is an experienced hospitality finance professional, having a blend of financial core expertise with hands-on training in managing hotel operations and business development.

Having worked as an Auditor for 7 years, he moved into finance management for brands like Parsvnath Developers and Shangri-La Hotels & Resorts and currently serving as the CFO of HTOO Hospitality.

His role is to spread the finance function for the largest hospitality in Myanmar owned and managed by one of the biggest business houses in Myanmar. They have 16 operational and under development High-end boutique resorts (covering an overall room inventory of 800+ rooms), 2,000 employees. Most of the properties are leaders in their region on trip advisor and won various travel awards over a period of time.

He has proven experience in setting up the foundation for sustainable growth (in the form of management information systems, restructuring), ERP implementation, gear towards IPO readiness & IFRS convergence. With such a great skill set, the students can be assured about the quality of training with his expertise.

He has been teaching at various institutions in Myanmar such as Swiss Business School, American Hospitality Institute of Myanmar with students ranging from directors to CEO of various companies.


Chartered Accountant – 2005 (Member of the ICAI) form Institute of Chartered Accountant of India   

Company Secretary – 2005  from Institute of Company Secretaries of India   

DISA (Diploma in Information System Audit) Supervisory Excellence (Online) & Business Leadership   form e-Cornell University     

Strategic Leadership from Shangri-La Global University

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