How do you assess gaps in your operational plan?

1 Define your metrics

The first step in assessing gaps in your operational plan is to define your metrics. Metrics are measurable indicators that show how well you are achieving your goals and objectives. They can be quantitative, such as revenue, sales, productivity, or customer satisfaction, or qualitative, such as feedback, reviews, or quality standards. You should choose metrics that are relevant, specific, realistic, and time-bound for your operational plan. For example, if your goal is to increase your market share, you might use metrics such as market share percentage, number of customers, or customer retention rate.

2 Collect and analyze data

The next step in assessing gaps in your operational plan is to collect and analyze data. Data is the information that you use to measure your metrics and evaluate your performance. You can collect data from various sources, such as surveys, reports, databases, or analytics tools. You should collect data regularly and consistently, using the same methods and criteria, to ensure accuracy and reliability. You should also analyze data using appropriate tools and techniques, such as charts, graphs, tables, or statistical methods, to identify patterns, trends, or outliers. For example, if you want to measure your customer satisfaction, you might use data from customer surveys, ratings, or feedback forms.

3 Identify and prioritize gaps

The third step in assessing gaps in your operational plan is to identify and prioritize gaps. Gaps are the differences between your actual performance and your desired performance, based on your metrics and data. They can indicate areas of improvement, opportunities, or risks for your operational plan. You should identify gaps by comparing your actual results with your expected results, using benchmarks, targets, or standards. You should also prioritize gaps by considering their impact, urgency, and feasibility, using criteria such as cost, time, resources, or stakeholder expectations. For example, if you find that your revenue is lower than your target, you might prioritize this gap over a gap in your employee engagement.

4 Develop and implement action plans

The fourth step in assessing gaps in your operational plan is to develop and implement action plans. Action plans are the specific steps that you take to close the gaps and improve your performance. They should include the actions, responsibilities, timelines, and resources needed to achieve your goals and objectives. You should develop action plans that are SMART: specific, measurable, achievable, relevant, and time-bound. You should also implement action plans effectively and efficiently, using project management, communication, and collaboration skills. For example, if you want to increase your revenue, you might develop and implement an action plan that involves launching a new product, expanding to a new market, or improving your marketing strategy.

5 Monitor and evaluate outcomes

The fifth step in assessing gaps in your operational plan is to monitor and evaluate outcomes. Outcomes are the results or impacts of your action plans on your performance and your operational plan. You should monitor and evaluate outcomes by collecting and analyzing data, using the same metrics and methods that you used to identify gaps. You should also compare your outcomes with your expected outcomes, using the same benchmarks, targets, or standards that you used to prioritize gaps. You should also review and report your outcomes to your stakeholders, using feedback, lessons learned, or best practices. For example, if you launched a new product to increase your revenue, you might monitor and evaluate its sales, profitability, and customer satisfaction.

6 Adjust and update your operational plan

The sixth step in assessing gaps in your operational plan is to adjust and update your operational plan. Adjusting and updating your operational plan means making changes or modifications to your goals, objectives, strategies, or tactics, based on your outcomes and feedback. You should adjust and update your operational plan to reflect your current situation, needs, and opportunities. You should also align your operational plan with your strategic plan and vision. You should also communicate and document your adjustments and updates to your stakeholders and team members. For example, if you expanded to a new market to increase your revenue, you might adjust and update your operational plan to include new objectives, strategies, or tactics for that market.

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?