A strategic budget is the process of planning costs for more than a year in advance in order to accomplish a complex strategy. Financial processes and reporting only require budgets be planned for a financial year. Strategic budgets are a management planning tool for implementing new competitive advantages, solving problems or achieving long term goals. The following are illustrative examples of a strategic budget.Products that require years to research, develop and launch. Launching operations facilities such as a factory or data center.Large scale changes to processes and technology to improve efficiency, productivity, risk management, quality and organizational performance. For example, large scale software implementations that retire multiple legacy systems.
ProgramsPrograms that have a mission that takes more than a year to achieve. For example, a space mission that takes a decade can benefit from a stable strategic budget.The infrastructure projects of a nation, region, city or organization. For example, a state that builds a high speed rail link between two cities may require a budget of five years duration or more.
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