Chapter Name: Operational planning
Description:The Operational Planning module focuses on the process of defining and organizing the day-to-day activities required to achieve the goals and objectives of a franchise. It covers the development of short-term and long-term operational plans that guide the franchise’s activities, resource allocation, and workflow.
Purpuse:The rationale behind the Operational Planning module is that effective operational planning is crucial to the success of any franchise. A solid operational plan serves as a roadmap for achieving business goals, ensuring that all activities and resources are directed toward meeting the franchise’s objectives.
Rational:The rationale behind the Operational Planning module is that effective operational planning is crucial to the success of any franchise. A solid operational plan serves as a roadmap for achieving business goals, ensuring that all activities and resources are directed toward meeting the franchise’s objectives.
Chapters Topics
Tools for developing and monitoring operational plans
This chapter discusses the tools for developing and monitoring operational plans, which are essential for ensuring the successful execution of business strategies. One commonly used tool is the SWOT analysis, which helps identify the organization’s strengths, weaknesses, opportunities, and threats, providing valuable insights that inform the development of operational plans. Gantt charts are another useful tool, as they visually represent project timelines, tasks, and milestones, making it easier to track progress and ensure that deadlines are met. Key performance indicators (KPIs) play a critical role in monitoring operational performance, as they provide measurable benchmarks to track the success of various business activities.
Elements of a functional operational plan
This chapter outlines the elements of a functional operational plan, which provides a detailed roadmap for achieving specific departmental or business function goals. The first key element is objectives and goals, which define the desired outcomes within a set timeframe. These goals should align with the broader business strategy and be SMART (specific, measurable, attainable, relevant, and time-bound). The next element is resource allocation, which details the necessary resources—such as budget, personnel, and technology—required for successful execution. This ensures that the right resources are available and properly distributed. Action steps and timelines are also crucial, as they outline the tasks and activities needed to reach the goals, with clear timelines and responsibilities assigned to ensure accountability.
Operational plans and project management
This chapter highlights the relationship between operational plans and project management. Operational plans are long-term, detailed strategies that focus on the ongoing activities and resources needed to achieve business goals. In contrast, project management focuses on specific, time-limited projects aimed at accomplishing defined objectives. While operational plans provide the overall structure for the business, project management ensures the successful execution of individual projects that support these broader goals. Both are interconnected, as effective project management helps achieve the targets set in operational plans, ensuring that projects are completed on time, within budget, and to the required standards.
Advantages and disadvantages of operational plans
This chapter discusses the advantages and disadvantages of operational plans. The main advantages include providing clear structure and direction, promoting efficiency, supporting better decision-making, and ensuring alignment with overall business goals. However, the disadvantages include the potential for rigidity, limiting flexibility and adaptability, an overemphasis on routine tasks which may stifle innovation, and the resource-intensive nature of developing and monitoring these plans. Additionally, if not regularly updated, operational plans can become outdated and ineffective.