How do you know if your operational plan is working?

1 Set SMART objectives

One of the first steps to assess your operational plan is to make sure that your objectives are SMART: specific, measurable, achievable, relevant, and time-bound. SMART objectives provide a clear and realistic direction for your actions and a basis for evaluating your progress and outcomes. For example, instead of saying "increase sales", a SMART objective would be "increase sales by 10% in the next quarter by launching a new marketing campaign".

2 Track key performance indicators

Key performance indicators (KPIs) are quantifiable measures that indicate how well you are performing against your objectives. They help you monitor and communicate your results, identify gaps and opportunities, and adjust your actions accordingly. For example, some common KPIs for operational planning are customer satisfaction, productivity, quality, efficiency, and profitability. You should define your KPIs at the beginning of your operational plan and track them regularly using data and feedback.

3 Review and update your plan

Your operational plan is not a static document that you can set and forget. It is a dynamic and flexible tool that you need to review and update regularly to reflect changes in your internal and external environment. For example, you may need to revise your plan if you face new challenges, opportunities, or risks, if you receive new information or feedback, or if you achieve or miss your targets. You should also involve your team and stakeholders in the review process to ensure their alignment and engagement.

4 Conduct a SWOT analysis

A SWOT analysis is a simple and effective method to evaluate your strengths, weaknesses, opportunities, and threats in relation to your operational plan. It helps you identify what you are doing well, what you need to improve, what you can leverage, and what you need to mitigate. For example, you can use a SWOT analysis to assess your competitive advantage, customer needs, market trends, resource availability, and potential risks. You can also use it to generate new ideas and strategies for your operational plan.

5 Learn from best practices

Another way to know if your operational plan is working is to compare it with best practices in your industry or sector. Best practices are proven methods or standards that have been tested and validated by other organizations or experts. They can provide you with benchmarks, insights, and inspiration for your own operational plan. For example, you can research how other companies or leaders have achieved similar objectives, overcome similar challenges, or implemented similar innovations.

6 Seek feedback and input

Finally, you can also learn from the feedback and input of your team, stakeholders, customers, and other sources. Feedback and input can help you validate your assumptions, understand your impact, and discover new perspectives and opportunities. For example, you can use surveys, interviews, focus groups, or online platforms to collect feedback and input from different groups or individuals. You can also use feedback and input to improve your communication, collaboration, and accountability with your team and stakeholders.

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?