Driver-based planning is a type of management that zeros in on a company's key value drivers and key business drivers. It helps create budgeting and business plans based on these factors. The goal of this type of planning is to center on the factors that are important to fueling success. Mathematical models can be created to project business.
Driver-based planning is helpful for finance executives when they are planning long-range strategic strategies. Examples include sales volumes in units, market share, number of shipments, and market size and growth.
The driver-based planning approach can also be used to create detailed financial budgeting for the next fiscal year and create financial forecasts to keep the budget current. Instead of budgeting everything, the focus is on creating fluid forecasts. Things such as the costs for computers, employees, and office supplies can be separated and calculated. The driver-based approach gives you the details that you need.
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