Strategic Planning and Budgeting Framework at BP Amoco PPT

This PPT slide, part of the 43-slide World Class Planning & Performance Management PowerPoint presentation, outlines the strategic planning and budgeting processes at BP Amoco, emphasizing a structured approach to target setting. It is divided into 2 main sections: the strategic planning process and the budgeting process.

In the strategic planning section, inputs such as market expectations, industry perspectives, competitive analysis, and other macro assumptions feed into the creation of a 7-year strategic plan. This plan serves as a foundational document for corporate performance management (PPM). The involvement of peer groups, which consist of business units (BUs) with similar strategic and operational characteristics, is highlighted. Approximately 150 BUs are categorized into 6-12 peer groups, fostering collaboration and shared insights among like-minded units.

The budgeting process is depicted on the right side of the slide. Here, the corporate PPM is again central, with the draft budgets from BUs and peer groups being developed based on the previously established strategic plan. Key elements such as normalized oil prices and foreign exchange rates are considered, along with the establishment of stretched targets for the peer groups and BUs. The process encourages a mutual challenge of budget assumptions among BUs within the peer groups, promoting accountability and rigorous evaluation.

This structured approach ensures that both strategic planning and budgeting are aligned, facilitating a comprehensive understanding of performance expectations across the organization. The emphasis on peer group collaboration and challenging assumptions can lead to more robust financial planning and strategic alignment, making this framework particularly valuable for organizations looking to enhance their planning and performance management capabilities.

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