Tbs business planning cycle

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Tbs business planning cycle

The Planning Cycle brings together all aspects of planning into a coherent, unified process. By planning within this structure, you will help to ensure that your plans are fully considered, well focused, resilient, practical and cost-effective.

You will also ensure that you learn from any mistakes you make, and feed this back into future planning and Decision Making.

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Planning using this cycle will help you to plan and manage ongoing projects up to a certain level of complexity — this will depend on the circumstance.

For projects involving many people over a long period of time, more formal methodologies and approaches are necessary see Managing Large Projects and Programs How to Use the Tool It is best to think of planning as a cycle, not a straight-through process.

Once you have devised a plan you should evaluate whether it is likely to succeed. This evaluation may be cost or number based, or may use other analytical tools. This analysis may show that your plan may cause unwanted consequences, may cost too much, or may simply not work.

In this case you should cycle back to an earlier stage. Alternatively you may have to abandon the plan altogether — the outcome of the planning process may be that it is best to do nothing!

Finally, you should feed back what you have learned with one plan into the next. The Planning Cycle is shown in figure 1: The stages in this planning process are explained below: Analysis of Opportunities The first thing to do is to spot what needs to be done.

You will crystallize this into a formal aim at the next stage in the process. One approach to this is to examine your current position, and decide how you can improve it.

tbs business planning cycle

There are a number of techniques that will help you to do this: This is a formal analysis of your strengths and weaknesses, and of the opportunities and threats that you face.

This helps you to spot project risks, weaknesses in your organization or operation, and identify the risks to which you are exposed. From this you can plan to neutralize some risks. Understanding pressures for change: Alternatively, other people for example, clients may be pressing you to change the way you do things.

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Alternatively your environment may be changing, and you may need to anticipate or respond to this. A different approach is to use any of a whole range of creativity tools to work out where you can make improvements.

These creativity tools culminate in the powerful Simplex process. Identifying the Aim of Your Plan Once you have completed a realistic analysis of the opportunities for change, the next step is to decide precisely what the aim of your plan is. Deciding and defining an aim sharpens the focus of your plan, and helps you to avoid wasting effort on irrelevant side issues.

The aim is best expressed in a simple single sentence. This ensures that it is clear and sharp in your mind.

Finding This Article Useful? Join the Mind Tools Club Today! If you are having difficulty in formulating the aim of your plan, ask yourself: What do I want the future to be? What benefit do I want to give to my customers?

What returns do I seek?

tbs business planning cycle

What standards am I aiming at?Funds are hereby authorized to be appropriated for fiscal year for procurement for the Army, the Navy and the Marine Corps, the Air Force, and Defense-wide activities, as specified in the funding table in section The Secretary of the Army may not award a contract under paragraph (1) using.

Business Life Cycles and Business Planning August 25, What are business life cycles, and what is their relationship to business planning? Generally, businesses pass through three stages before reaching the final stage of decline. Nov 01,  · Research Resources.

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