This document discusses strategic planning concepts. It defines strategic planning as a long-term plan that allows an organization to achieve its objectives by understanding priorities and resources. The document outlines the six key elements of strategic planning: vision, mission, objectives, strategy, approach, and tactics. It also discusses the benefits of robust strategic planning for project managers, such as increased success and efficient resource use.
This document discusses strategic planning concepts. It defines strategic planning as a long-term plan that allows an organization to achieve its objectives by understanding priorities and resources. The document outlines the six key elements of strategic planning: vision, mission, objectives, strategy, approach, and tactics. It also discusses the benefits of robust strategic planning for project managers, such as increased success and efficient resource use.
This document discusses strategic planning concepts. It defines strategic planning as a long-term plan that allows an organization to achieve its objectives by understanding priorities and resources. The document outlines the six key elements of strategic planning: vision, mission, objectives, strategy, approach, and tactics. It also discusses the benefits of robust strategic planning for project managers, such as increased success and efficient resource use.
This document discusses strategic planning concepts. It defines strategic planning as a long-term plan that allows an organization to achieve its objectives by understanding priorities and resources. The document outlines the six key elements of strategic planning: vision, mission, objectives, strategy, approach, and tactics. It also discusses the benefits of robust strategic planning for project managers, such as increased success and efficient resource use.
is the strategy which vision term plan defines how the An that enables organization plans organization’ you to to move from its s vision achieve your current state to the statement is organization’ state envisioned in an s objectives. its mission and aspirational APPROACH vision framework description Outline your Strategic planning of what it approach focuses on a wants to An approach business’s future by achieve in provides a understanding the future. methodology operational priorities MISSION for executing and resource Create your your availability, setting mission strategy. out clear strategic While your TACTICS objectives for vision is an Get down to desired business organization- tactics results, and wide goal, Tactics are developing an action your mission focused plan on how to how you initiatives, achieve them. plan to projects, or allows a business to achieve the programs take control of its vision. that allow vision and turn OBJECTIVES organization projected results into Set your s to execute reality. This objectives a strategic emphasizes its Objectives plan. importance for are specific project managers, results that a who are responsible person or for the success or Strategic plans outline the system aims firm's long-range (two to five failure of a project, to achieve and for ensuring an years) organizational goals within a time and organization frame. operates at optimal STRATEGY set a course of action the efficiency Develop firm will pursue to reach its 6 ELEMENTS OF STRATEGIC your goals. These long-term goals PLANNING strategy encompass eight major Benefits of robust strategic Increases the areas of concern: market planning in project likelihood of success standing, innovation, human management by identifying and resources, addressing risks There are numerous early on financial resources, physical benefits to robust strategic Helps to ensure that resources, productivity, planning, for both the resources are used social responsibility, and organization and the project efficiently and financial manager. Strategic planning: effectively, as performance. A good Helps to ensure that project managers strategic plan answers: everyone in an can align their organization is projects with Where are we aware of the strategic objectives going? company’s vision The success of a What is the and objectives, and strategic plan relies environment? knows how their on the people and How do we get work contributes to systems involved in there? these goals its creation. Thus, Gives direction and it’s vital that the To answer these questions focus to project right people are and establish effective long- managers, who can involved in the term goals, managers require use strategic strategic planning extensive amounts of objectives as a guide process and that information. For instance, when making business objectives, managers must study decisions about as well as how they priorities, resources, will be achieved, are Budgets, and risks clearly Production Facilitates better communicated. To schedules, communication do this, there should Industry and between the be a greater sense of economic data, organization and its accountability. Customer stakeholders, as Lessons learned in preferences, everyone is aware of strategic plan Internal and the strategic development should external data, direction and how it be incorporated into Competition and so will be achieved future planning on. Improves decision- processes, while making by providing continuously a framework for redefining the plan evaluating options to ensure you keep and trade-offs working towards achieving your vision Pace Technology, that are derived and overall formerly known as from forecasting the priorities. Textron Fleet future. It is a logical Management, is and systematic innovating the game of estimate of the golf both on and off the future factors that course by optimizing can affect planning. STRATEGIC operations and Planning premises MANAGEMENT OF amplifying player provide a TECHNOLOGY experience. Whether you background against choose the screenless which the estimated Base Technology means Shield technology or a events take place. all inventions, high-definition screen These are the events discoveries, system, your course will that affect planning. improvements, see the immediate Establishing planning processes, ideas and benefits. premises is a critical designs that a Party element in the owns, controls or SOME PLANNING CONCEPT planning phase, otherwise has the right RESPONSIBILITY FOR which ensures that to use in the PLANNING: all managers in the performance of its organization are in obligations under this It is the sync with each other. Agreement, other than continuing To explain planning Developed Technology. responsibility of premises, let us Key Technology means each manager. consider a few the intellectual property, The higher examples from including but not limited managers rise business and to, patents, trademarks, the more time government copyrights, trade secrets they spend on planning: and know-how and planning. In the improvements thereto Ultimate budget, owned or licensed by responsibility lies there is an Recipient which are the with top and announceme assets under middle nt of even development as management. changes in described in Recipient’s Plans must lead the tax laws. Supplemental to action. These are Information Form (the known PLANNING PREMISES: “SIF”), a copy of which is conditions attached as Exhibit C A planning premise is on which hereto a set of assumptions planning is based. A competitor change, the plans planning premises. Planning might enter need to change as premises in business the same well. Here are the management can be market as primary reasons for classified based on many yours with establishing factors, as described below: the same planning premises: kind of They help in Internal and product. This well- External Premises is an organized The premises which anticipated planning. exist within the event; the The risk of boundaries of the business are internal possibility of uncertainty that is reduced premises. Some of happening is considerably the internal premises not . are men, money, particular. There is a material, and reduction in methods. Your IMPORTANCE OF PLANNING the risk of planning would be PREMISES flexibility. based on how Managers competent is your The premise of workforce and how planning is the can do effective much money you framework on which have at your planning is based. coordination . disposal. Amid uncertainty External premises surrounding business It also increases are derived from the and management, it environment that is these planning profitability. surrounds the premises that imply TYPES OF PLANNING business. They are not just assumptions PREMISES centred around the about the future but market like money also predictions. Planning premises in market, product They are the bedrock management are vital in market, government on which managers making important decisions policies, growth in plan the future that are based on certain population, etc. course of action. predictions about the future. Tangible and Without proper Managers build the Intangible Premises planning premises, superstructure of planning Any premise which the planning does based on their ability to can be quantitatively not have a solid identify the crucial, strategic, measured is a foundation. If or limiting factors that allow tangible premise. panning premises them to select the proper These premises can be quantified in relations, product Developing Planning terms of time, demand, etc. Premises needs the planners money, and units of Those premises to do realistic forecasting. production. which can not be Determining planning On the other hand, controlled by the premises involves intangible premises management of an cannot be quantified. organisation come Calculating the Some of the under uncontrollable probability of intangible premises planning premises. events. are public relations, Some examples are Analysing changes in business reputation, weather conditions, consumer the morale of natural disasters, etc. behaviour, employees, etc. Constant and technology, Controllable, Semi- Variable Premises government policies, Controllable, and These premises etc. Uncontrollable which do not change Implementing Premises irrespective of systematic Those premises actions taken are investigation to which can be constant premises develop the basis for controlled by the like men, money, etc. planning. management to a These premises Predicting future events is a large extent come behave similarly complex process; hence, under controllable under all premises must consider premises. circumstances. limited assumptions that are Management has a Based on the course most critical for the plant. A lot of control over of action taken, typical process of developing their future some premises premises in planning is: commitments when change which is it comes to material, termed as Variable Selecting the machines, and premises. These Premise - not all the money. premises cannot be factors in the The business can controlled or environment affect partially control predicted, for the operations of the some premises or example, the sales business. The assumptions about volume of a firm, management must the future. These fall union and list down those under semi- management premises which controllable relations, etc. directly influence the premises. Few development of examples of such ESTABLISHMENT OF organizational plans. planning premises PLANNING PREMISES Reviewing are trade union Limitations - Several practical factors limit these premises are information relevant the abilities of an sent to the top to future events. organization to management for However, this is not achieve its goals. their approval. The only impossible but Such limitations premises developed also unnecessary. should be by line managers and Employing a finite anticipated and staff are more horizon in plans is provided for. A few consistent with each justified partly on examples of such other than those of the supposition that limitations are the top executives. far distant events power, labour, Communicating have negligible effect money, and material. Premises - The on the current Developing premises developed decisions and partly Alternative Premises through this process on the realization - Since it is not are then supported that the forecasted possible to predict all by budget and data far into the the factors that can various programs. future tend to be affect organisational Then the premises inaccurate. In other planning, managers are communicated words, if the time must develop a set to all those who are horizon for a of alternative part of the planning planning model is premises. These process at different too long, the amount premises are levels of business. of required input established based on Documents like ETOP data–most of which separate (environmental often may be assumptions of threat and guesswork—tend to future events. The opportunity profile) be very high and alternative plans are contain planning incur high developed since premises. computational costs. premises keep To spend large changing, some amount of time and change slowly and PLANNING HORIZON money using data of some fast. questionable Verifying Premises - A planning horizon is reliability could In an organisation, the length of time result in unnecessary there are different (i.e., the number of expense and departments and weeks or months) unsatisfactory planning happens at into the future for results. If, on the different levels as which plans are other hand, the per the judgement of made. An optimal planner chooses too people in that plan should take into short a planning department. All consideration all the horizon, he or she may have ignored predict ticket sales during a might come from industry important events holiday weekend by experts, executives, staff just past the horizon examining data from that members or consumers. weekend over the past five Some popular methods of Shows how far into the years. When evaluating qualitative forecasting future do you want to plan. information for quantitative include: Varies depending on: forecasting, you can weigh recent data more heavily for The nature a more accurate depiction of The Delphi method: of the business future trends. Here are some Experts share their The market common types of projections in a organization is in quantitative forecasting: panel discussion. The required Executive opinions: details for the plans Naive method: Businesses review Upper management To predict/approximate historical data and uses intuition to what a certain future event assume future make decisions. or condition will be. behavior will reflect Internal polling: past behavior. Customer-facing One can forecast: employees share Straight-line method: Businesses insights about Production levels evaluate recent customers. Technological growth and predict Market research: developments how growth might Customers report continue influencing their preferences Needed manpower and answer data. Seasonal index: questions Governmental regulations Businesses analyze historical data to find Needed Funds seasonal patterns. Moving average Training needs method: Businesses Resource needs determine averages over a large time Sale levels. The most period. critical information to forecast. Qualitative forecasting is the act of predicting business Quantitative forecasting is activity and consumer the act of making business behavior using emotions, predictions using exact ideas and judgments instead numbers. For example, a of numbers. These opinions theme park manager might