Beyond Budgeting by Bjarte Bogsnes @ Agility Summit 2020

Bjarte Bogsnes has a long international career, with 20 years of leadership experience, both in Finance and HR. He is a pioneer in the Beyond Budgeting movement and has been heading up the implementation of Beyond Budgeting at Equinor (formerly Statoil), Scandinavia’s largest company.

Equinor realized that traditional leadership and management practices no longer work in today’s competence organization operating in a business environment more complex, dynamic, and unpredictable than ever. The company implemented innovative alternatives to traditional management, like abolishing traditional budgets and calendar-based management in favor of more decentralized, agile, and human processes.

In this talk, Bjarte describes the “Beyond budgeting” approach that replaces budgeting with methods that increase business agility:

The problems with traditional management, including budgeting
The Beyond Budgeting model and companies on the journey
Equinor’s “Ambition to Action” model
Redefining performance – dynamic and relative with a holistic performance evaluation
Dynamic forecasting and resource allocation and no traditional budgets
From calendar-driven to event-driven; a more self-regulating management model