Long range planning provides a framework that guides choices. A concise definition would be as follows: A method to determine the essential thrusts and concepts and the marshaling of an organization’s resources and capabilities toward achieving them. There are four broad elements to this process.
Strategies. This typically includes the development of broad objectives for accomplishment during a reasonable planning period. This may include the setting of growth objectives, ownership transition in a closely held organization, restructuring into a matrix PM system, or similar objectives that will require the marshaling of many of the resources of your organization.
Implementation Plans. While strategies describe an organization’s broad goals, implementation plans begin to describe how these goals will be achieved. This process provides a general guideline rather than a precise game plan for accomplishing a strategy.
Initial Objectives. After outlining broad goals and general implementation plans, priorities and short-term goals need to be established. Objectives typically cover detailed activities to be undertaken during a series of three- to six-month periods until the stated goal is achieved. Organizations typically hold regular planning meetings to review progress toward achieving initial objectives and to establish new goals as others are completed.
Tactical Plans. These are detailed implementation plans to help achieve initial objectives and eventually, the long-term goals. Tactical plans typically include budgets, schedules, detailed work assignments, and other similar items.