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Midyear Strategy Review/Annual Plan Review
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StepInstructions
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1What is the most important, strategic goal for our organization?
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This is your "why", the overarching goal for your organization. This goal is the yardstick by which you measure each objective to ensure that it is in complete alignment and service to achieving this overarching goal.
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2List the key objectives from your strategic planning or your annual planning.
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These are the 7 to 10 objectives you set as goals/projects to complete for the year.
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3List any new objectives or opportunities to evaluate.
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It's important that your strategic plan or annual planning process is fluid and agile. You need a process for evaluating the new opportunities or objectives that come up post planning. List any new opportunities or objectives you want to evaluate during this process.
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4Is this objective still critical and if so, why?
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Life happens. What was critical at one point may become irrelvant or less important later. Reconsider at this point in time if the objective is still important in achieving the strategic goal of the organization (Step 1). If so, recommit to it. If not, let it go or hit "pause" until a later date.
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5How critical is this to achieving the most important strategic goal for the organization?
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Assess a value to your answer in Step 4. How critical is this objective? Use a rating system of 3 for Important, 5 for Very Important and 7 for Essential to Our Success. If the objective is no longer important (that can happen and it's ok!) remove it from this worksheet.
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The next column will automatically assign a "High" priority for objectives you assigned a value of 7 and "Pause" for those you assigned a value of 3. For those you assigned a value of 5, you will need to evaluate further in Step 6.
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6For objectives you rated "5" In Step 5, assess likelihood of executing in current fiscal year.
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One way of prioritizing these objectives is to weight them based on how likely your organization is to execute them within the plan period. If two objectives are equally important but you have limited resources (and you always do), selecting the one you are most likely able to execute can help drive better results. If you are equally likely to execute objectives with equal importance, you can weight the objectives based on their impact on the business.
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Please note you only need to assign likelihood of executing values to those objectives you've given a 5 for importance. The next column will assign a final prioritization based on your assessments. These priority objectives are the ones that should receive your focus. For those objectives you did not assess priority status, it's important to remember you aren't abandoning them all together - just for this current period.
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7List risks or threats to achieving these objectives.
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What are the challenges or risks that threaten our ability to achieving these goals? What might prevent success?
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8Determine the risk mitigation actions.
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Based on the risks and threats identified in Step 7, for those that have a higher likelihood of occurrence, what are we doing to do mitigate the risk of occurrence?
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9What's our response if the risk occurs anyway, despite our best efforts?
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Don't overlook this step. The best risk mitigation plans sometimes fail and bad things happen despite valiant effort. Use this opportunity to determine with your team how you would respond in the worst case scenario. The discussion makes the team stronger and better prepared to mobilize into action should the need arise.
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