Advantages of a Robust Strategic Plan for Prioritization of Execution

By Steve Anglicas , CEO of Strata Results

We all execute initiatives, projects or major tasks in our organizations, but are we executing the right thing at the right time???? Am I getting the best “Bang for Buck”???? Am I allocating my resources in a cost-efficient and effective way??

How do I know??

Having a Strategic Plan is the best starting position here.???? It will define what my (organization’s) key priorities and objectives over the next few years will be.?

Having an agreed Strategic Plan gets “everyone on the same page” regarding What, Why and When.???? The only thing left is the “How”.??? This brings us to the next major component – “The Roadmap”.?

The organization’s Roadmap needs to be an executable plan of initiatives that will deliver the Strategic Plan.???Whether directly or indirectly, every initiative that is actioned, should be mapped and accredited back to the achievements of the objectives stated in the Strategic Plan.?

If it’s not helping the Strategic Plan, then why do it!?

Implementing this paradigm of “If it’s not helping the Strategic Plan, then why do it” helps us not to get sidetracked by non-essential activities, therefore maintaining focus on achieving our strategic goals.?

You will find that if your roadmap of activities is all agreed upon, and in line with your strategy, then a proper forecast of resource utilization and cost justification can be implemented.??? At a basic level, it prohibits overspending on low priority tasks.?

It also gives you a context on which to measure any new initiatives that may come up.??? As we know, our market is dynamic and changes, if a new need arises, then we can use the strategic plan to provide a consistent framework for evaluating those new initiatives.?

We are all in this together.?

The other important enabler that a good Strategic Plan and an executable Roadmap give us a joined collaborative approach to initiative and resource prioritization.??? We start to lose that “silo” mentality of each Business Unit doing their own things in their own time.?

We start to see “real” enterprise-wide resource management being enabled.?

What gets measured gets done.?

Accountability and metrics are paramount to the success of any Strategic Plan and Roadmap.??? Making each component part of someone’s BAU is essential to its success.??? Plan carefully as to who owns which component – who is the best person to “own” each one, not just “who is most impacted”.??? Think about who is the one most likely to “make it happen”.?

Build an environment of measurement and reporting that is not “looking for blame”, but a constructive look at achievements and celebrate those achievements.?

Just because you have a Strategic Plan, it doesn’t mean that it can’t change.?

As I said before, our external environment, customers, markets, and political arenas can change during our Strategic Period.??Analyze your Strategic Plan and Roadmap at regular intervals – say quarterly – asking, “Does this still make sense?”.?

In Summary.?

A robust Strategic Plan & Roadmap is essential for the effective prioritization and execution of business activities. It provides clarity, ensures optimal resource allocation, enhances decision-making, and fosters coordination and alignment. By focusing on strategic priorities, businesses can track performance, mitigate risks, remain agile, and build stakeholder confidence. Ultimately, a strategic plan supports long-term sustainability and growth, creating a clear path for the organization to achieve its goals.?

For more detail about Strata Results and its services, visit www.strataresults.com.