Plan A method for doing or making something, consisting of at least one goal and a predefined course of action for achieving that goal. Goal A specific result to be achieved; the end result of a plan. Objectives Specific results toward which effort is directed.

1. Planning
DEVELOPED BY.
DR IKRAM UL HAQ CHOUDHARY CPA,
Ph.D.

2. Roadmap
 Purpose of planning
 The planning process
 Setting objectives
 Building planning premises
 Developing plans
 Types of plans
 Planning pitfalls
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DrIKRAMULHAQCHOUDHARYCPA,PhD
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3. Purpose of Planning
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Manager
s engage
in
planning
to:
Set the standards
to facilitate control
Provide
direction
Minimize waste and
redundancy
Reduce the
impact of change

4. Elements Of Planning
 Plan
 A method for doing or making something,
consisting of at least one goal and a
predefined course of action for achieving
that goal.
 Goal
 A specific result to be achieved; the end
result of a plan.
 Objectives
 Specific results toward which effort is
directed.
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DrIKRAMULHAQCHOUDHARYCPA,PhD
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5. Elements Of Planning (cont’d)
 Planning
 The process of setting goals and courses of
action, developing rules and procedures, and
forecasting future outcomes.
 What Planning Entails
 Choosing goals and courses of action and
deciding now what to do in the future to
achieve those goals.
 Assessing today the consequences of various
future courses of action.
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6. What Planning
Accomplishes
 Allows decisions to be made ahead of
time.
 Permits anticipation of consequences.
 Provides direction and a sense of
purpose.
 Provides a unifying framework;
avoiding piecemeal decision making.
 Helps identify threats and
opportunities and reduces risks.
 Facilitates managerial control through
the setting of standards for monitoring
and measuring performance.
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7. The Management Planning
Process
 Hierarchy of Plans
 A set of plans that includes the company-wide
plan and the derivative plans of subsidiary
units required to help achieve the enterprise-
wide plan.
 Top management approves a long-term plan;
and each department creates its own
budgets
 The Planning Hierarchy
 Top management formulates its plans based
on upward feedback from the departments,
and the departments in turn draft plans that
make sense in terms of top management’s
plan.
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8. Hierarchy of Goals
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9. Who Does the Planning?
 Small businesses:
 Entrepreneurs do most of the planning.
 Large firms:
 Traditional:
 A central corporate planning group works with top
management and each division to solicit, challenge,
and refine the company’s plan.
 Current:
 Planning is decentralized and includes the firms’
product and divisional managers, aided by small
headquarters advisory groups.
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10. How to Develop a Plan
 Set an objective.
 Develop forecasts and planning premises.
 Determine your options.
 Evaluate alternatives.
 Choose your plan, and start to implement it.
 Go to Level 2.
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G.Dessler, 2003
} The decision-
making process

11. Setting Objectives
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12. Principles of Goal-Setting
 Set SMART goals—make them specific,
measurable, attainable, relevant, and
timely. Choose areas (sales revenue, costs,
and so forth) that are relevant and
complete.
 Assign specific goals.
 Assign measurable goals.
 Assign doable but challenging goals.
 Encourage participation.
 Use executive assignment action plans, or
management by objectives.
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13. Forecasts and Planning
Premises
 Forecasting is used to predict future
requirements and opportunities
 Determines the premises on which planning is
based
 Can be quantitative (e.g., a time series) or
qualitative (e.g., jury of executive opinion)
 Marketing research
 Competitive intelligence
 Helps build the picture of what others are doing
to inform the planning process
 Next step is the decision-making process we
talked about yesterday
 Finally, you begin to build your plans (usually
more than one to realize objectives)
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14. The Business Plan And Its
Components
 Description of the business (including ownership
and products or services)
 Marketing plan
 Financial plan
 Management
and/or personnel plan.
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15. Project Success Factors
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16. Project Success Factors
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Recipe For Project Success: The CHAOS
Ten. .
What makes a project successful?

17. Thanks
Q
s.
&
As.
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