Reviewing Plans
The Quarterly Review
by Jak Carroll, Strategic Sport Solutions
Having a solid long-term strategic plan is one thing, executing the plan is another.
One key to successful execution is to review the plan regularly, with the end of each quarter being a useful milestone. Public companies publish results quarterly, so why not review strategic plans quarterly?
When doing a quarterly review, some things to consider are:
Set up a special meeting
Don’t include “quarterly strategic plan review” as item XX on your normal Board agenda.
If possible, have a standalone meeting where the review is the sole focus. That way the meeting doesn’t get bogged down in discussion of operational issues.
A standalone meeting also ensures that people have the mental energy to devote critical thought to the discussion.
Establish a strategy review team
The role of this team is to put together the agenda for the review. The agenda should consider both the past (progress towards key goals) and the future (what might affect our progress).
Additionally, circulate the agenda well in advance of the meeting and include relevant metrics and discussion points for participants to consider in preparation for the meeting.
Review progress towards key goals …
Consider each major goal the organization has set and then assess progress towards that goal. Some organisations use “traffic light” systems to summarise progress, while I like to assess each goal on the following basis:
Achieved – the goal has been achieved and all key components implemented
Affirm – the goal is still relevant but has not been fully achieved
Adapt – the goal needs to be modified in the light of changing circumstances
Abandon – the goal is no longer appropriate
Regardless, of the system used, knowing how the organisation is performing right now is an essential part of the discussion.
… But focus on strategic issues
The major purpose of the meeting is to keep the organisation moving forward, so don’t spend all the time looking at past results.
Instead, ensure the agenda for the meeting has future-focused items and deals with questions such as: What’s working well? What’s holding us back? What do we need to change? What has changed in our marketplace?
Sometimes, it is helpful to invite a guest presenter to talk about a particular issue of concern.
Final thoughts
An important role of any Board is to monitor the progress towards long-term strategic plans.
However, remember that plans are tools, rather then ends in themselves. While they need to be monitored, they sometimes also need to be adapted.
To put in bluntly: there’s no point sticking to the map if it doesn’t equate with the reality on the ground.
A properly conducted review should not only reveal the reality for your organisation, but also consider ways to keep it moving forward.
Does your organisation need some help with planning or governance? Jak Carroll has extensive experience in the sport and nonprofit sectors, including consulting to organisations and conducting training sessions. If you are interested in some quick advice or having Jak work with you on your next project, please click here