However, consistent with emerging innovations in the respective disciplines, we strive to remain agile in monitoring and adapting to the changing context and environment of our work. Risk assessment and engagement with clients and partners is a continual activity. As new risks are identified, AEB may find it necessary to modify the Plan in consultation with senior management. Figure 1 highlights the four key phases common to both the audit planning and the evaluation planning. The next quadrant describes the environmental scan performed on the priorities of NRCan and the Government of Canada, respectively, in order to identify projects. A two-pronged process follows, which involves consultations with sector planners and senior management to obtain concurrence on possible audit topics, as well as verify evaluation requirements.
Integrated Business Planning: How CFOs Can Improve Forecasting
Forestry glossary | Natural Resources Canada
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Audit of NRCAN’s Strategic and Operational Planning Process
Effectively responding to the challenges and opportunities presented by these, and other forces, presents a management challenge for an organization as large and complex as NRCAN. Establishing expected results, setting strategic directions and organizational priorities, aligning organization resources to deliver upon priorities, and monitoring progress are key management processes for ensuring that NRCAN effectively delivers upon its expected results and in turn, delivers on its mandate commitments. To support this management focus and a clearer alignment between results, activities and resources for departments, the Treasury Board of Canada Secretariat TBS introduced a new federal policy and directive on results in The Policy on Results sets forth federal accountability, performance measurement requirements and the importance of results in management, decision-making and public reporting.
Lack of coordination between finance and the sales, marketing and supply chain functions can lead to misalignment with corporate strategy, inventory issues and forecast inaccuracies, and ultimately an unrealistic financial plan. That in turn can result in earnings "misses," which can lead to falling stock prices and reduced shareholder value. Olsen and Ms. Porter discuss fundamental aspects of an IBP framework, including the importance of strong leadership from the top to drive buy-in and a clear vision of what the organization wants to accomplish.