Final answer:
The statement is False. Business plan projections are typically made in a 12-month schedule, allowing for short-term monitoring and long-term perspective.
Step-by-step explanation:
The statement is False. Business plan projections are typically made in a 12-month schedule, not a 36-month schedule. A 12-month schedule allows for more detailed monitoring of progress and adjustments in the short term, while still providing a long-term perspective.
Projections beyond 12 months can become less accurate and more uncertain due to the changing nature of the business environment. Factors such as market conditions, competitor actions, and technological advancements can significantly impact business operations and financial performance over longer-term periods.
For example, let's consider a startup tech company. The business plan projections for the first 12 months may focus on key milestones such as product development, market launch, and customer acquisition. These short-term projections can be more precise and actionable. However, projections for the next 24 months may depend on various assumptions and scenarios, which can introduce greater uncertainty.