McGraw-Hill/Irwin 2009 The McGraw-Hill Companies, All Rights Reserved Chapter Five Planning The...

Chapter Five

Planning The Foundation of Successful

Management

Planning & Uncertainty

• Planning coping with uncertainty by formulating

future courses of action to achieved specified results

Planning & Strategic Management

Figure 5.1

How Planning Helps You

1. Helps you check on your progress2. Helps you coordinate activities3. Helps you think ahead4. Helps you cope with uncertainty

The Adaptive Cycle

• Adaptive Cycle businesses are continuously cycling

through decisions about three kinds of business problems: (1) entrepreneurial, (2) engineering, and (3) administrative

Making Plans

Figure 5.2

Three Types of Planning for Three Levels of Management• Strategic planning

determine what the organization’s long-term goals should be for the next 1-5 years with the resources they expect to have available

Three Types of Planning for Three Levels of Management• Tactical planning

determine what contributions their departments can make during the next 6-24 months

Three Types of Planning for Three Levels of Management• Operational planning

how to accomplish specific tasks within the next 1-52 weeks

Goals, Action Plans, & Operating Plans• Goals

specific commitment to achieve a measurable result within a stated period of time

also known as an objective strategic, tactical, operational

What Is MBO?

1. Jointly set objectives2. Develop action plan3. Periodically review performance4. Give performance appraisal and

rewards, if any

Setting SMART Goals

• Specific• Measurable• Attainable• Results-oriented• Target dates

The Planning/Control Cycle

Figure 5.5

Project Planning

• Project management achieving a set of goals through planning,

scheduling, and maintaining progress of the activities that comprise the project

The Project Life Cycle

Figure 5.6

McGraw-Hill/Irwin 2009 The McGraw-Hill Companies, All Rights Reserved Chapter Five Planning The...

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