In any organization the size of the U.S. Postal Service, financial forecasting plays an important role. Accurate forecasting of revenue, volume, and expenses is essential to planning budgets, understanding future cashflows, identifying risk areas, and deciding where to invest capital.
We’ve all gotten them — those handy return envelopes that say, “No Postage Necessary if Mailed in the United States.” Sometimes they’re included with a bill. Sometimes they’re included in a solicitation for donations. In the latter case, there’s often a note that says if you affix a stamp, you’ll be helping the organization. But did you ever wonder how exactly putting a stamp on the return envelope results in more money for the organization?
Due diligence shouldn’t end after a contract is awarded. If you decide to work with the same contractor on a second project, maybe you won’t check references again, but you’re certainly going to make sure the first job was completed properly, on time, and within budget before rehiring, right?