PROGRAM DESCRIPTION
MFP is a two-day practical exercise program designed specifically for property-casualty regional and branch managers who are required to develop and implement operational forecasts and plans.

Using sample data for practical exercise purposes, managers are taught to use sophisticated statistical forecasting techniques such as regression analysis and standard deviation to analyze past performance and forecast premiums, losses incurred and underwriting expenses.

When managers are comfortable with the forecasting process, they will work individually or in a team to forecast operational results using their own data. The program requires financial data for the past 24 months to establish statistical credibility.

The main objective of the seminar is to provide managers with the statistical tools necessary to make a realistic assessment of future results that can be compared with plan. Managers will need to justify differences between the statistical forecast and the all too often "rosy scenarios" contained in company plans. The statistical approach lends credibility to the forecasting and planning process and provides a benchmark for comparing actual results with plan as the year progresses and provides a basis for modifying behavior to close adverse variances.

PREREQUISITES
There are no specific prerequisites; it is assumed that regional and branch managers have sufficient industry knowledge and experience to handle the material presented in the program.

SUGGESTED AUDIENCE
Although the program is designed for regional and branch managers, it would be a valuable experience for their direct reports who are on the managerial fast track. And senior managers who may wish to familiarize themselves with the process.