What is strategic plan development?
Strategic plan development occurs when an organization wants to institute a new objective. The plan serves as the concept for how the objective will be met, and its development relates to the steps involved in making the concept come to life.DefinitionIn the Nov. 2008 issue of the “Journal of Business Ethics,” Mollie Painter-Morland says developing a strategic plan can be defined as a series of related jobs that are directed toward a targeted objective, including planning, directing and controlling resources.FeaturesStrategic plan development starts out as a statement of work, which details the work to be done along with a proposed schedule that specifies the start and completion dates. It also contains performance measures in terms of budget and completion steps (milestones).Work Breakdown StructureThe work breakdown structure of strategic plan development defines the hierarchy of project tasks, which can be further divided into subtasks. Completion of subtasks result in the completio
