Companies’ performance management processes are still under intense strain in this turbulent economic environment, judging by the results of a new survey of 140 finance execs by BPM software provider Adaptive Planning and the BPM Forum, a thought leadership organization.

Reforecasting is on the rise; 34 percent of poll participants said they re-planned or reforecast more than twice in the third quarter. That’s three times as many as in Adaptive Planning’s Q2 survey.

There’s not much sign that projections are becoming more accurate, either. Sixty-one percent of respondents came in under revenue targets, and 46 percent came in under cost targets in Q3. Budgeting remains slow, taking three months or more for the majority of companies (56 percent).

Maybe because their numbers keep getting trashed, finance pros are a lot less optimistic about the economy than you might think, given the recent signs of a turnaround. Nearly half think the recession will take the shape of a double dip, and nearly three-quarters say they don’t expect recovery to get under way until the second half of next year.

Click here for the full survey report.