Every year, when it comes time for annual budget planning, engineering leaders face the same difficult questions. Where do we need to hire? What should my teams prioritize over the next year? What changes do we need to make from last year?

But when these questions are answered effectively, the budget planning process can help your engineering teams address anything that comes their way over the course of a given year.

This guide will discuss the various ways organizations approach budget planning, weighing the pros and cons to each approach, and provide some best practices to consider regardless of company industry, size, or organizational structure. Ultimately, the goal is to help you maximize the total value you get from the budget planning process.