Strategic Planning Flashcards
strategic planning is
a process in which a community looks at it current situation and compares that situation to whee it would like to be within a certain period of time
economic development strategic planning involves
- a realistic appraisal of available resources, constraints, and opportunities
- the formulation of a clear mission and shared vision
- the development of achievable goals
- the formulation and implementation of project action plans to reach these goals and identify who will champion them
- the design of clear metrics of success
strategic planning is critical for:
long term, effective development
why is strategic planning beneficial
- it shapes a community’s future
- it provides a structure for mutually accepted goals and a shared vision
- it defines the purpose of community groups
- it balances community goals with realistic local resources
- it incorporates viable metrics that can be used to measure success.
strategic planning builds consensus
among community leaders and public and private local leaders; communicates the group’s goals to residents, and outlines how the goals will be achieved
a “dashboard indicator”
incorporates social, economic, demographic, and other useful measurements involved in carrying out a strategic plan in a succinct format
strategic planning can be used for overall economic development plans or for more specific areas like
marketing plans
what questions can strategic planning answer? (4)
- what are the economic development needs and opportunities of this area?
- what are the specific goals required to meet those needs?
- what are the available resources to meet those goals?
- what strategies and projects best utilize the local resources to meet the development goals and garner public support?
is strategic planning about making grand plans or focusing on key issues?
focusing on the key issues and desires of a community and charting a feasible path to addressing them
how long can work on a strategic plan typically take?
6 moths to one year
namethe strategic planning phases
pre-planning, planning, post-planning
describe what happens in pre-planning
1 month: meet with stakeholders and ask what they want out of the process
3-5 months: make assessment of the local economy
4-6 months: analysis of the info collected
describe what happens in the planning phase
2 months: draw up the economic development agenda
describe what happens in post-planning
1 month: review the plan with the community, finalize it, and prepare for implementation
what types of data from the local economy are used for strategic planning?
industry structure, labor force, tax revenue, physical and cultural resources, positive and negative aspects of the current economic environment
list the items in the checklist of steps for structuring a strategic plan
- convene the people responsible for guiding the design of the process
- ID the stakeholders and define their roles in the process
- select an organizational arrangement for the process
- specify and schedule activities for carrying out different parts of the process
- develop a public involvement program
- determine the needed technical and financial support needed to complete the process
_____ is important in the planning process
consensus
involving others in the planning process
- gathers insights and perceptions on strengths weaknesses and opportunities
- engages a broad array of expertise and talents
- builds capacity, skills, and knowledge
- generates a vested interest, understanding and support for economic activities
- brings increased resources to implement the plan
- builds legitimacy for the plan and its directives
what is the typical cost range for a strategic plan
$15,000 - $500,000
what are some funding sources for strategic planning
EDA, state or local community, chamber, local corporations, or stakeholders
what is the result of the strategic planning process and what does it do
a technical document; serves as a tool to articulate future economic development and inspire the community
common problems with strategic planning process
- failure to involve a broadly representative cross section of leadership
- not involving the general public in meaningful ways
- misunderstanding of the strategic planning process, resulting in inadequate or inappropriate design
- too much time and effort on visioning
- no clear identification of priority issues
- wish list of action items that don’t address the keep issues
- failure to assign actions to appropriate organizations for implementation
- no means for evaluating performance and progress so the process can be adjusted
- lack of commitment to keep the process going beyond the initial effort
monitoring tracks
performance and outcomes
evaluation compares
outcomes to specific benchmarks and to the plan as a whole
objctives of monitoring and evaluating
- promote efficient and effective implementation and operation of the strategic plan and individual projects
- ensure that goals and objectives are met
- help minimize delays through the early detection of problems
- serve as a feedback system for solving problems during the process and ensuring that objectives are met
- leads to a revision of the objectives if during the process something is found to be unrealistic or impractical
when should evaluations be conducted?
before, during, and after the implementation
what do pre-implementation evaluations do?
test feasibility and impact of the plan
develop specific measures to define success at this time
ongoing monitoring of the agreed upon performance:
measures progress towards goals and objectives
use on site visits, anecdotally measure, or formally schedule meetings to review benchmarks
post-project evaluation should be conducted with ____ of when the project is finished to
within one year; to determine how the project has performed in terms of cost, timing, and benefits as well as initial goals
what are the four performance factors of program success?
organizational efficiency
economic impact
customer satisfaction
return on investment
define benchmarking
the process of comparing project data to a measurable baseline indicators or “benchmarks” in order to measure the achievement of, or progress toward meeting identified goals, milestones, or project objectives – comparing project performance and outcomes to pre-established standards
what does most benchmarking look like?
no standard procedure; establishing baseline benchmarks, best practice benchmarks, measuring progress towards achieving the benchmark or improved performance
what is the purpose of performance tracking
to make necessary adjustments to projects or strategies, hold implementing organizations accountable for results, and enable the community to advance towards overall goals
