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QMS 202 (64)
Lecture 6

Lecture 6.docx

2 Pages
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Department
Quantitative Methods
Course Code
QMS 202
Professor
Masoomeh Moharrer

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Description
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 SMART GOALS - S: Specific - M: measurable - A: Attainable - R: Retainable - T: timely -Goal Alignment: If you consult with stakeholders they are responsible and they will help a project to try and make it the most successful. 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
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