It is essential that organizations make business and strategic planning part of the ongoing process of the organization. This is necessary to establish a vision, chart the future direction, grow the business, and make improvements. This is accomplished through a structured and consistent planning processes.
For business planning, PM&A assists organizations in identifying the business framework. This includes determining product and services offerings, delivery, targeted customers, marketing approach, and resources required to drive the business. Analysis takes into consideration financials, current market characteristics, and competition.
Strategic Planning is required for the setting of goals and objectives and developing an action plan to achieve the company goals. It utilizes data such as changes in market conditions, organizational strengths, opportunities, customer demand/feedback, and future industry trends. Strategic planning is an ongoing process that requires monitoring and adjustment of the base plan as needed. Sound strategic planning is as important as sound operational execution, and it is essential that strategic planning become part of the ongoing organizational mindset.
PM&A utilizes a structured approach to conduct strategic planning projects. The following is a high-level description of the project steps used in developing a strategic plan.
Project Initiation - identifies sponsor and stakeholders, determines scope, and finalizes strategic plan approach. It is important that staff and stakeholders are informed of the project and have a mutual understanding of planning goals. This promotes stakeholder and staff buy-in with future action items. It is also important to make sure enterprise goals are understood so that the resulting strategic plan supports the strategy of the enterprise.
Current & Future State Analysis - provides the information required to develop a gap analysis between the current and future state. Interviews are conducted, benchmarks are analyzed, and data is analyzed to identify gaps.
GAP Analysis – provides basis for developing action plans and projects designed to close the gap. The resulting executable and measurable action plans provide a basis to measure whether the organization is achieving its goals.