Here’s another cut of a planning checkpoint that is useful to keep in mind while completing plans. It’s simpler than many others I’ve seen, but covers the bases. Many who plan live in the world of operations and therefore it’s easy to forget how important these considerations are.
1. Are the plans you’re building sufficient to create significant growth / will beat the market? If your plan is not positioned to beat the market in the segment you’re competing for, you’re at risk.
2. Do they reflect an clearly understanding of our key limiting factors? You simply have to keep in mind the things that stand in the way of your growth. If you do, it’ll be easier to maintain the context of what your competitors are doing.
3. Are we defining how roles will shift and accountability will adapt to the new strategy? Plans have to shift accountability, or you can expect little to change.
4. Have we identified our key strategic and operational risks, and are we managing them? Risk are both environmental as well as a result of your own plans. Opportunity based planning is key, but they need to reflect the realities of your risk environment.