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Budget assumptions are gathered from:
I. Last year's budgets
II. Department heads with information about next year's plans
III. Future expectations
Personal Judgments
Opinions or decisions formed by individuals based on personal feelings, tastes, or opinions, often without external input or influence.
Certainty
The state of being confident and free from doubt about something, often implying a high degree of belief in the accuracy or truth of an outcome or fact.
Fully Informed
Being fully informed means having all the necessary and relevant information or knowledge about a particular subject or situation before making decisions.
Objective Probability
A measure of the likelihood of an event occurring, based on factual data and statistical analysis rather than personal judgment.
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