It's popular in the agile community and especialy the #NoEstimates community to consider Beyond Budgeting to mean No Budgeting.
Here are the actual principles of Beyond Budgeting
Governance and Transparency
- Values - Bind people to a common cause; not a central plan
- Governance - Govern through shared values and sound judgment; not detailed rules and regulations
- Transparency - Make information open and transparent; don’t restrict and control it
Accountable Teams
- Teams - Organize around a seamless network of accountable teams; not centralized functions
- Trust - teams to regulate their performance; don’t micro-manage them
- Accountability - Base accountability on holistic criteria and peer reviews; not on hierarchical relationships
Goals and Rewards
- Goals Set ambitious medium-term goals, not short-term fixed targets
- Rewards Base rewards on relative performance; not on meeting fixed targets
Planning and Controls
- Planning - Make planning a continuous and inclusive process; not a top-down annual event
- Coordination - Coordinate interactions dynamically; not through annual budgets
- Resources - Make resources available just-in-time; not just-in-case
- Controls - Base controls on fast, frequent feedback; not budget variances
