Ideally, every line in a budget is assigned to somebody who is responsible for managing that budget. In most cases you’ll have groups of budget lines assigned to specific people and a budgeting process that emphasizes commitment and responsibility. You’ll also need to make sure that everybody involved knows that results will be followed up. The ideal plan relates the budgets to the milestones table, shown below. The milestones table takes all the important activities included in a business plan and assigns them to specific managers, with specific dates and budgets. It also tracks completion of the milestones and actual results compared with planned results.

The Milestones Table

The milestones are the heart and core of the business plan. Using the milestones table will assign responsibility and authority to the expense budget plans.

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