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PGA PGM 3.1
PGA Professional Golf Management
Copyright © 2022 The PGA of America
Business Planning Activity 4: Business Planning Phase 4 – Develop a Financial Forecast & 12-Month Budget
Ratings
Criteria
Business Planning
Outcome 2:
Use case studies to
apply business
planning concepts
Business Planning
Outcome 7:
Analyze financial
history to create a
financial forecast and
operating budget
Professionalism and
Communication
5
4
3
2
1
Excellent
Competent
Adequate
Inadequate
Unacceptable
Demonstrates extensive
knowledge of the
learning outcome
Demonstrates
acceptable knowledge
of the learning outcome
Demonstrates partial
knowledge. Requires
review of the learning
outcome
Demonstrates minimal
knowledge. Requires
extensive review of the
learning outcome.
Does not demonstrate
knowledge of the
learning outcome.
Extensive information
provided for Crescent
Ridge or Summit Valley
to define phase 4 of the
Business Planning
Model.
Information provided for
Crescent Ridge or
Summit Valley to define
phase 4 of the Business
Planning Model; subtle
information about terms
and definitions may be
missing.
Some information
provided for Crescent
Ridge or Summit Valley
to define phase 4 of the
Business Planning
Model; some key
information may be
missing.
Minimal information for
Crescent Ridge or
Summit Valley provided.
Minimal information
about terms and
definitions utilized.
Activity does not utilize
case study information.
Information given is
inaccurate and/or
incomplete.
Extensive and thorough
information
demonstrates ability to
analyze financial history
and create a realistic
financial forecast and
operating budget.
Information
demonstrates ability to
analyze financial history
and create a mostly
realistic financial
forecast and operating
budget. Subtle
information may be
unrealistic or missing.
Some information
demonstrates ability to
analyze financial history
and create a realistic
financial forecast and
operating budget. Some
information may be
unrealistic or missing.
Minimal information
demonstrates ability to
analyze financial history.
Financial forecast and
operating budget are
mostly unrealistic and
are minimally aligned.
Information does not
demonstrate ability to
analyze financial history.
Financial forecast and
operating budget are
unrealistic and do not
align.
Writing is extremely
clear and engaging;
excellent grammar and
spelling. Well-organized;
responses stay on topic.
Key concepts from the
course are thoroughly
applied.
Writing is clear and
appropriate; nearly free
of grammar and spelling
errors. Good
organization and fairly
easy to follow. Many key
concepts from the
course are applied;
subtle elements may be
missing
Writing has minor errors
in style, tone, grammar,
and/or spelling.
Somewhat organized;
difficult to follow in some
places. Key concepts
from the course are
applied; some key
elements are missing.
Writing is unclear and
difficult to understand.
Many grammar and/or
spelling errors.
Responses are poorly
organized and difficult to
follow. A few key
concepts from the
course are applied;
Considerable grammar
and/or spelling errors.
Key concepts are
unclear or missing, and
thoughts are incomplete.
Course understanding is
not demonstrated.
LEVEL 1 WORK EXPERIENCE PORTFOLIO (11-2022)
1
PGA PGM 3.1
PGA Professional Golf Management
Copyright © 2022 The PGA of America
many key elements are
missing.
LEVEL 1 WORK EXPERIENCE PORTFOLIO (11-2022)
2
PGA PGM 3.1
PGA Professional Golf Management
Copyright © 2022 The PGA of America
ACTIVITY 4. BUSINESS PLANNING PHASE 4: DEVELOP A FINANCIAL FORECAST
AND 12-MONTH BUDGET
This section should include three subsections:
•
Assumptions: Based on the case study, use your knowledge, intuition, and
experience to identify a set of assumptions that take into consideration both internal
and external factors that could possibly impact the success of the business. These
assumptions should state why you think you will improve your facility’s business.
•
Annual Financial Forecast: Develop a one-year financial forecast for the golf
operation. Use the Business Planning course manual and the Case Study manual.
Your forecast will only include the golf operation and will be based on the objectives
and assumptions you make for the one-year forecast. (See Spreadsheet)
•
12-Month Operating Budget: Take the annual numbers projected in your forecast
and distribute them realistically over 12 months, taking into account seasonal
fluctuations in rounds and revenues. (See Spreadsheet)
A. ASSUMPTIONS
Identify a set of assumptions that take into consideration both internal and
external factors that could impact the success of the business. These
assumptions should state why and by how much you think numbers will increase
or decrease in the case study facility’s revised forecast.
Rationale (Because statement)
Assumption
Example 1: Because Objective 1 states
rounds are projected to increase X%.
Merchandise Revenue will increase
by X%.
Example 2: Because weather patterns have
not changed in the past 3 years.
The monthly rounds distribution is
expected to remain the same next
year.
Example 3: Because new factories are
opening.
We will achieve our Tournament
Objective.
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LEVEL 1 WORK EXPERIENCE PORTFOLIO (11-2022)
3
PGA PGM 3.1
PGA Professional Golf Management
Copyright © 2022 The PGA of America
B. ANNUAL FINANCIAL FORECAST
Develop a one-year financial forecast for the golf operation. Use the Business Planning
course manual and the Case Study manual. Your forecast will only include the golf
operation and will be based on the objectives and assumptions you make for the oneyear forecast.
See Excel Files
C. 12-MONTH OPERATING BUDGET
Take the annual numbers projected in your forecast and distribute them realistically
over 12 months, taking into account seasonal fluctuations in rounds and revenues.
See Excel Files
LEVEL 1 WORK EXPERIENCE PORTFOLIO (11-2022)
4
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