Planning cycle
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The document outlines the steps in a planning process including detailed planning, evaluation techniques, and feedback. Detailed planning involves working out the most effective and efficient way to achieve the defined aim. Plan evaluation techniques include PMI analysis to weigh pros and cons, cash flow forecasts to assess costs and revenue over time, and cost/benefit analysis to compare total costs to expected benefits. Feedback is used to improve future plans.
Planning cycle
- 1. Analysis of Opportunitie s Identify Aim Explore Options Selection of Best Option Detailed Planning Plan Evaluation Plan Implementation Feedbac k
- 2. Detailed Planning The process of working out the most effective and efficient way of achieving the aim that you have defined Effective Producing result Efficient Able to function without waste
- 3. Techniques in evaluating the plan PMI(Plus/Minus/Interesting) -simple technique for weighing the pros and cons of a decision Cash Flow Forecasts - allows you to assess the effect of time on costs and revenue Cost/Benefit Analysis - involves adding up all the costs involved with the plan and comparing them with the expected benefits