Orçamento de base zero e rolling forecast
: a análise de caso da Sonae MC

  • Sofia Oliveira Ferreira (Student)

Student thesis: Master's Thesis


Budgeting is the cornerstone of the management control process in nearly all organizations (Hansen et al., 2003). Although, in the past decades, this tool has been contested by different authors and for several reasons, marked as cumbersome, too expensive and with an uncertain benefit, what, therefore, add little value to the organization. It’s also mentioned that budgeting has a centralized orientation that prevent managers from responding quickly to changes in today’s business and competitive environment, focus on fixed targets and performance incentives that can leads to dysfunctional management behavior (Hansen et al., 2003; Hope & Fraser, 2003a). To respond to these concerns, many practitioners presented new points of view as alternatives models to traditional budgeting (Hansen et al., 2003; Pyhrr, 1977; Sivabalan et al., 2009; Leon et al., 2012; Zeller & Metzger, 2013), exposing in this work focus on zero-based budgeting and rolling forecast as improving tools to the budgeting process. Therefore, the present work aims to contribute to adding knowledge about budgeting, with the support of Sonae MC’s case study. Additionally, it’s intended to evaluate the possible contribution of zero-based budgeting and rolling forecast to achieve their strategy. To provide a response to these proposed goals, we did a literature review and empirical investigation, through public documentation and interviews. As a result of this case study, it was verified that budget is considered an essential tool for the company management. Although, and side to the mentioned disadvantages, it’s suggested some improvement opportunities based with zero-based budgeting and rolling forecast principles.
Date of Award5 Jan 2022
Original languagePortuguese
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorLuís Manuel Dionísio Marques (Supervisor)


  • Management control system
  • Traditional budget
  • Better budgeting
  • Beyond budgeting
  • Zero based budget
  • Rolling forecast


  • Mestrado em Gestão

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