How can you develop a performance analysis plan for strategic planning?

2 Identify the performance questions

The second step is to identify the performance questions that the performance analysis plan will answer. The performance questions are the key questions that guide the performance analysis and help to evaluate the progress and impact of the strategic plan. The performance questions should be relevant, specific, measurable, achievable, realistic, and time-bound. They should also address the inputs, outputs, outcomes, and impacts of the strategic plan.

3 Select the performance indicators

The third step is to select the performance indicators that will measure and monitor the performance of the strategic plan. The performance indicators are the quantitative or qualitative measures that show the changes or results of the strategic plan's activities, programs, or projects. The performance indicators should be valid, reliable, feasible, and useful. They should also be aligned with the performance questions and the strategic plan's goals, objectives, and strategies.

4 Define the performance standards

The fourth step is to define the performance standards that will compare and evaluate the performance of the strategic plan. The performance standards are the criteria or benchmarks that define the expected or desired level of performance for each performance indicator. The performance standards should be clear, objective, and realistic. They should also be based on the best practices, industry norms, stakeholder expectations, or regulatory requirements.

5 Choose the data sources and methods

The fifth step is to choose the data sources and methods that will collect and analyze the data for the performance indicators. The data sources are the sources of information that provide the data for the performance indicators. The data sources can be primary or secondary, internal or external, quantitative or qualitative. The data methods are the techniques or tools that collect and analyze the data for the performance indicators. The data methods can be surveys, interviews, observations, documents, records, or reports. The data sources and methods should be appropriate, reliable, valid, and ethical.

6 Plan the reporting and communication

The sixth step is to plan the reporting and communication of the performance analysis results. The reporting and communication are the processes of presenting and sharing the performance analysis results with the relevant stakeholders. The reporting and communication should be timely, accurate, clear, and actionable. They should also include the purpose, findings, conclusions, recommendations, and implications of the performance analysis.