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UNDERSTAND THE BUDGETING CYCLE
What Is the Budget and Why Is It Important?
When individuals move from being individual contributors to management/executive positions, they often receive their first introduction to the budgeting process. Prior to this dose of cold hard reality, budget might have been a nebulous concept of a pool of money put there to be spent as management saw fit. Budget can take an almost mystical air in discussion. The frequent question, “Is there enough money in the budget to cover <insert the expense>?” can sound similar to “It’s good—we do not have to the bank” from the film I Remember Mama, which meant that there were sufficient funds to cover expenses for the month.
One of the first signs that an information security ...
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