All of the following elements should be included in a project scope statement EXCEPT. Thus, planning has assumed great importance in all types of organisation—business or non-business, private or public sector, small or large. Planning is neither poetry nor philosophy. Elements 5. It has a simple mission statement: A vision and mission can also be combined in the same statement. For example, if the organisational objective is profit earning, planning activity will specify how much profit is to be earned looking into all facilitating and constraining factors. In an organisation, there can be various derivative plans like planning for buying raw materials and equipment, developing new product, recruiting and training the personnel, etc. When planning action is taken, these objectives are made more concrete and meaningful. The aspects of this changing environment include changes in technology, government policies, the nature of competition, social norms and attitudes etc. After formulating the basic and derivative plans, the sequence of activities is determined so that the plans are put into action. The enterprise must be ready to exhaust the available resources for the achievement of a plan. Since planning is concerned with the identification of alternatives and selection of the most favourable alternative, it may rightly be described as “the most basic tool of management functions.” Thus planning is a process of deciding the business targets and charting out a rational path of attaining those targets. It provides a unifying framework. Which of the following statements describes characteristics of a well-written problem statement that can help focus the staff and subsequent planning process? Forecasting provides a logical basis for anticipating the shape of the future business transactions and their requirements as to man and material. Documentation reviews. Week 3 - Quiz: MGT435: Organizational Change … What Daily Leadership Behaviors Inspire Employee Motivation? A plan is a course of action that shows promise of optimizing return at the minimum expense of inputs. The plan should be so prepared that there is sufficient scope for changing it from time to time. 18. Private insurance is an important need. Long-term goals are the milestones a company sets to guide operations toward their far-reaching objectives. Forecasting : Roles, Steps and Techniques | Management Function. Customer needs must be met before wishes. 1 / 1 pts Question 5 Which is the first step of Warrick’s six-step change implementation process? Though major planning function is entrusted to the top management, it is not restricted to the top level only. A plan involves varied factors of different importance. Importance 4. But, decision-making has a wider connotation than planning. Planning is a mental exercise involving imagination, foresight and sound judgement. Planning is said to be the most basic and primary function of management. The manner in which each work has to be done is indicated by the procedures laid down. They are the beliefs you have that will … Work Breakdown Structure. However, without setting the objectives there is nothing to organise, direct or control. Service and/or Product Line: In this section describe your service and product. There may be production procedure, sales procedure, purchase procedure, personnel procedure etc. The plans for achieving your short-term goals are your action plans. As such, it should communicate that dream to your employees and customers in an inspirational manner. While much more is often included in the plan, these seven elements will help you get started. After the best alternative is decided upon, the next step is to derive various plans for different departments or sections of the organisation to support the main plan. b. Then he proceeds to prepare a kind of ‘blueprint’ mapping out the ways of attaining these objectives. The capital required to obtain any equipment elements that are needed for the generation of income. These methods are known as a. portfolio models. The different departments may formulate different plans and programmes for their integration in the overall planning. A particular objective can be achieved through various actions. The nature and characteristics of planning may be stated as follows: Planning is an intellectual and rational process. The next step in the planning process lies in the setting up of objectives to be achieved by the enterprise in the clearest possible terms keeping in view its strength and limitation. D. include an analysis of the competition. Well-considered overall plans harmonies inter-departmental activities. The objectives are defined in more concrete, precise and meaningful terms. It must be based on clearly defined objectives. For ensuring that the selected plans are proceeding with the right lines, it is of paramount importance to devise a system of continuous evaluation and appraisal of the plan. 2. It occupies first place and precedes all other functions of management which are designed to attain the goals set under planning. Planning requires scientific thinking and it should spell out in clear terms the definition of the purpose, analyse the problem and make a careful and diligent search for all the facts bearing upon it. Through planning, the manager fixes the objectives of the organisation as a whole and, in the light of this, the goals of its various departments. Elements of Control Plan. Again, there are many managerial functions like motivating the employees, disapproving their work or discharging them form service which call for decision-making, but these functions cannot be included within planning from the point of view of analytical study of different management processes. 67. Elements of Planning: Planning as a managerial process consists of the following elements or components: 1. Risk planning meetings. Because it is a template, or pattern, you can adapt and use it again—perhaps at a future job. All of the following statements concerning project stakeholders are true except A. Capital . Dan McCarthy wrote about management and leadership for The Balance Careers. The nature of the business that the organization is engaged in. The rules prescribe a definite and rigid course of action to be followed in different business activities without any scope for deviation or discretion. (ii) Adequate knowledge about the capacity of the force available through observations and experiments and from established standards. Strategic planning is essential where there is competition. C. the nature of the competitive environment. Perception of opportunities includes a preliminary look at possible opportunities and the ability to see them clearly and completely, an understanding of why the organisation wants to solve the uncertainties and a vision what it expects to gain. Planning concentrates attention on the objectives of an enterprise. Policies provide the necessary basis for executive operation. Programmes, thus, lead to a concrete course of inter-related actions for the accomplishment of a purpose. The essence of planning is the choice among alternative courses of action. 1910.38(c)Minimum elements of an emergency action plan. It is the analysis and interpretation of future in relation to the activities and working of an enterprise. Planning is essentially a process of deciding in advance what is to be done, when and where it is to be done, and how it is to be done, and by whom. 9. Planning as a managerial process consists of the following elements or components: The important task of planning is to determine the objectives of the enterprise. This understanding provides the basis for additional knowledge about new facts and matters to the employees. Whatever be the nature of activity, management starts with planning. ‘Planning Premises’ are planning assumptions relating to the expected environmental and internal conditions. None can be a planner whose mind is not active, who does not possess any deliberate power and whose sense of judgement is not strong. If there is only one way of doing something there is no need of planning. It will, thus, add to the quality of planning through the knowledge of additional facts, new visions and revealing situations. c. 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