How to Calculate Budget Creation Cycle Time?

The most important aspect of an efficient budgeting process is how quickly you can get your approved, ready-to-use budgets. This efficiency metric measures the speed at which this happens and usually takes into account days or months from when objectives are set until completion with numbers ranging between 10 - 90 depending on where they’re sitting in terms of their decision making timeline. The formula is: Budget creation cycle time = Date budget finalized – Date budgeting activities started

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