Business Planning

Once completed, the strategic plan is used to develop a much more detailed 3 to 4-year business plan. The business plan, in turn, is used to develop an annual operating plan which has a 12-month (1 year) horizon. Projects are developed within a fiscal year, and they contribute to components of the annual operating plan, and utilize the corporation’s resources – people, processes, and tools.

This process is represented in the adjacent diagram.