Planning: the process of setting objectives and determining how to best accomplish them
- Identifiyign the specific results or desired outcomes that one intends to achieve.
- Why is planning important?
o It’s a goal (target or end that management desires to reach) , and you can tell if you are
in the expected target or not.
o For attracting investors
o Environment is uncertain
o Implement “to do” lists
o Planning reduces crisis management
o Attracting investors
- S: Specific
- M: measurable
- A: Attainable
- R: Retainable
- T: timely
If you consult with stakeholders they are responsible and they will help a project to try and make it the
Steps of Planning
- Define your objectives
- Determine where you stand vis-à-vis objectives
- Develop premises regarding future conditions
- Analyze and choose among action alternatives
- Implement the plan and evaluate results.
Benefits of planning:
- Improves focus and flexibility
- Priority oriented
- Advantage oriented