Adaptive management processes - why companies are re-thinking planning, budgeting & forecasting

How many financial people enjoyed the 2009 budgeting and forecasting processes? And how many companies felt the figures they forecasted a year earlier came anywhere close to the reality that ensued? With the world in turmoil, the days of the annual budget could be due a rethink. The question is, how can you make forecasting fast and flexible enough to meet your ever-changing business needs?