How do you design a strategy evaluation system?

1 Define your objectives

The first step is to define your strategic objectives and the indicators that will measure them. Objectives are the specific and measurable outcomes that you want to achieve with your strategy. Indicators are the data points that show how well you are progressing towards your objectives. You should have a clear and concise statement of your objectives and indicators, and align them with your vision, mission, and values.

2 Select your methods

The next step is to select the methods and tools that you will use to collect, analyze, and report your data. Methods are the approaches and techniques that you will use to gather and interpret your data, such as surveys, interviews, observations, or experiments. Tools are the instruments and software that you will use to support your methods, such as questionnaires, databases, dashboards, or charts. You should choose methods and tools that are appropriate, feasible, and ethical for your context and stakeholders.

3 Plan your timeline

The third step is to plan your timeline and schedule for your strategy evaluation. Timeline is the sequence and duration of your evaluation activities, such as data collection, analysis, and reporting. Schedule is the specific dates and deadlines for each activity, as well as the roles and responsibilities of the people involved. You should plan your timeline and schedule in advance, and communicate them clearly to your team and stakeholders.

4 Implement your system

The fourth step is to implement your strategy evaluation system and execute your evaluation activities. Implementation is the process of putting your system into action, following your methods, tools, timeline, and schedule. Execution is the act of carrying out your evaluation activities, such as collecting, analyzing, and reporting your data. You should implement your system with rigor, accuracy, and transparency, and document your results and challenges.

5 Review your results

The fifth step is to review your results and findings from your strategy evaluation. Results are the raw data and information that you have collected and analyzed from your indicators. Findings are the insights and conclusions that you have drawn from your results, such as strengths, weaknesses, opportunities, and threats. You should review your results and findings with a critical and reflective eye, and compare them with your objectives and expectations.

6 Adjust your strategy

The final step is to adjust your strategy based on your results and findings from your evaluation. Adjustment is the process of making changes and improvements to your strategy, such as revising your objectives, indicators, methods, or tools. Improvement is the outcome of your adjustment, such as enhancing your performance, impact, or efficiency. You should adjust your strategy with a flexible and adaptive mindset, and involve your team and stakeholders in the process.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?