Planning Your Model
Based on my fieldwork in financial modeling, my opinion is that the majority of models built have little or no planning involved. There are some cases where there really is no need. But as a financial modeler, at some point, you will need to have some coherent plan for your models, particularly when working on a project where the modeling is only one aspect, such as being on a bid or in a transformation program. It is critical to understand not just how to build models but also how to fulfill all the aspects of planning. This way, you will provide a final model that meets and exceeds user expectations. This chapter introduces the modeling life cycle and will take you through the process of how to manage and take ownership of the entire modeling space.