Gap analysis
Gap analysis compares where current plans will take the business with where its objectives say it should be, sizing the shortfall between the two so new strategies can be sized to close it.
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A retailer's trend forecast reaches €1,700,000 in five years against a €2,000,000 objective, a €300,000 planning gap. A new location is projected to add €180,000 and a loyalty programme €140,000, together €320,000. That takes the projected total to €2,020,000, clearing the €2,000,000 target with €20,000 to spare.
Where it fits
SubjectManagerial AccountingAdvancedTopicBudgeting & the Master BudgetAdvancedTopicStrategic Performance & the Balanced ScorecardAdvanced