6.1: Table 5.7: Covers issues relating to the funding of HRD activity
6.2: Activity
5.6: HRD funding
6.3: Questions:
Annual budgeting / One-off project budgeting for new initiatives
6.4: What
financial measures and assumptions are applied to the budgeting process?
This question
can allow an investigation of the underlying mechanisms and assumptions beneath
funding processes.
This last
question is a particularly critical one for HRD professionals to ask.
It can be
easy to assume that the production of financial forecasts, estimates and
budgets is an objective and scientific process – however, this is not the case.
It is really
important to be able to question and debate the assumptions that have been
used, particularly if those producing the figures for HRD activity are not
those with a detailed knowledge of the area. However, at the same time HRD professionals
should also then expect a robust questioning of their own financial
calculations.
Resources: Business cases and budgets
