Steve Player / By Bjarte Bogsnes, vice president & project manager of Beyond Budgeting, StatOilHydro

      StatoilHydro is Scandinavia's largest oil and gas company. In 2005, due to an increasingly dynamic and unpredictable business environment the company decided to abolish traditional budgeting. Due to the fact that budgets were seen as a time-wasting barrier to good performance, as a result budgets were replaced with a fundamentally different leadership approach and management process. Project manager Bjarte Bogsnes, who led a similar project in the European petrochemicals company Borealis twelve years ago, will cover the following issues in his presentation, Our Journey Beyond Budgeting:

• Case for change - what's wrong with budgets?
• The new leadership model - more than a change in finance processes
• The implementation journey - getting approval and overcoming resistance
• Partnering with HR - essential for success