Business Plans
Oversight of strategic planning typically centers around business plans and business cases that outline a strategy and its associated risks and opportunities. These are used to evaluate, prioritize and approve business strategies.Progress Updates
Weekly or bi-weekly meetings that review action plans that detail strategy implementation progress and issues. For example, a marketing team that monitors a project launch strategy with an action plan that identifies the individuals responsible for each objective of the strategy.Performance Management
Performance management is the process of setting goals for teams and individuals and monitoring performance against these goals. This is a basic tool of strategy implementation and monitoring.Project Governance
The top level process of directing and controlling program and project execution. For example, weekly project governance meetings where project managers present status reports.Change Management
Change management is the leadership of change including the sponsoring of projects, communication of strategy and clearing of issues. This requires total engagement with strategy implementation and the authority to sideline resistance to change by transferring responsibility to agents of change.Reporting
Communication of strategy implementation and benefits realization with reports, KPIs, metrics, dashboards, analytics and status meetings.Risk Monitoring
Risk monitoring is the oversight of risk management efforts and the measurement of risk levels.Issue Monitoring
The reporting of incidents and issues that may be caused by strategic implementations and related change.Market Analysis
Market analysis is the systematic evaluation of market results, risks and the development of forward looking forecasts.Operational Analysis
Operational analysis is evaluation of the process impact of strategies in areas such as cost, quality, risk, efficiency, productivity and compliance.Management by Walking Around
Management by walking around is the principle that senior managers be fully engaged with low level operational realities as opposed to watching strategy implementation from a simplistic dashboard or high level action plan.Summary
The end-to-end process of monitoring strategic planning, strategy implementation and benefits realization.
| Overview: Strategy Monitoring | ||
Type | ||
Definition | The oversight of strategy implementation and benefits realization. | |
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