Final answer:
A rolling forecast is a plan that is regularly updated by dropping one period and adding another, providing a more up-to-date and flexible forecast compared to traditional static forecasts.
Step-by-step explanation:
The plan being described in the question is a rolling forecast.
A rolling forecast is a plan that is regularly updated, typically on a monthly or quarterly basis. It involves dropping the oldest period and adding a new one to the end, maintaining a specific forecast period.
For example, if a business is using a rolling forecast for its financial projections, it might update the forecast at the end of each month, dropping the oldest month's data and adding a new month's data. This provides a more up-to-date and flexible forecast compared to traditional static forecasts.