ARCHIVED - Internal Audit of Strategic Plan Development Process

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Annex C – Strategic Planning Framework

Strategic Plans and Planning^[5]

A Strategic Plan is a document that records the decisions the organization has made with respect to its future strategy. The plan should also contain the rationales, analyses and background information supporting those decisions. A good strategic planning process is one that facilitates the creation of a superior strategy and ensures that the appropriate information is contained in the plan. The types of information typically included in a strategic plan are:

Vision, Mission and Values

Objectives(related to the mission, vision and values)

Tombstone information:

• Major Business Lines (for achieving the mission, vision, values and objectives)
• Organization chart
• Key performance benchmarks and performance standards
• Identification and description of customers and stakeholders
• Employee satisfaction survey results
• Customer (departments) satisfaction survey results
• An analysis of current human and financial resources 

Risk Analysis

• Major risks (internal and external)
• Risk impact analysis e.g. sensitivity analysis
• Risk impact outcomes - including best and worst cases
• Risk management/abatement tactics

Drivers for change:

• An external environmental analysis that would touch on political, economic, technological and social demographics analysis 
• Strengths and weaknesses analysis related to achieving objectives
• Analysis of capabilities for innovation
• A broad summary of the capital improvement needs during the period covered by the plan
• An analysis of expected changes due to changes in legislation
• Gap analysis results

Strategies

• Descriptions of major strategic alternatives that were rejected and the rationale for their rejection
• Rationales for the proposed strategies – how the proposed future strategies will optimize the achievement of objectives in accordance with the mission, vision and values.
• Assumptions, both qualitative and quantitative
• A summary of major changes represented in the proposed future strategies in relation to the strategies currently in use including major changes in financial resources, assets, job definitions, information systems, and human resource practices in order to bring them into alignment with the strategy
• Succession plan for key management positions
• Potential areas of resistance to change and methods for overcoming them
• Key performance indicators
• Milestones
• Key success factors
• Plans for overcoming critical weaknesses or strengthening advantages

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Footnotes:

^[1] See Annex A for a description of the development of the strategic planning criteria.

^[2] Diagram developed based on Missouri Strategic Planning Model and Guidelines, March 2002

^[3] See Annex A for a description of the development of the strategic planning criteria.

^[4] Source: TBS Planning Cycle for 2003-04 Drafted May 2003

^[5] Source:  20 Questions Directors Should Ask about Strategy, Canadian Institute of Chartered Accountants, © 2003

 

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