From the course: Strategic Planning Foundations
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Initiative prioritization: Drawing the line
From the course: Strategic Planning Foundations
Initiative prioritization: Drawing the line
- Prioritization is one of the most important aspects of a good strategic planning process. So once you've generated a list of initiatives, it's important to understand what the priorities are and the resources that those initiatives will consume. So let's look at an example of a prioritization list. I've got my list of seven initiatives and they've been ranked from highest priority to lowest priority. And that priority is driven by my strategic goals of the organization, so the qualitative things, as well as the financial goals and the hard metrics that are going to help me understand which initiatives deliver the highest financial return. I then need to look at, for each initiative, what resources will be required to complete it. In this example, I've got the cost of delivering on that initiative, in hundreds of thousands of dollars, of what it will take it implement it. I've also looked at some of the functional resources…
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