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The Cycle of Annual Business Planning
I had the honor of actually completing the annual planning cycle when this topic first emerged. I didn’t know if I should just take a deep breath and try to write something or take a much needed rest, as after completing annual planning I felt like I had just climbed Mt.Kilimanjaro.
In many companies the time emerges where everyone must focus a portion of their day on what they want to accomplish during the next fiscal year. Depending on your outlook, it can be a frustrating and/or exciting time depending on the maturity level of a company’s annual planning process.
This article will explore how to design an effective and agile planning process that would allow internal groups to adapt and plan for new business priorities, minimize employee burnout and increase the opportunity to maximize the percentage of planned versus implemented features.
Many companies fall victim to trying to initiate the annual planning process as part of an employee’s part-time job. This scenario is not optimal as without the right planning process and tools in place, planning becomes an activity that is reactionary and not well-thought out. Planning should be an ongoing activity throughout the fiscal year. If a company does not have the luxury to have staff dedicated to ongoing planning, there is hope! The following diagram outlines the five stages of the …
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