“A goal without a plan is just a wish.”
In any business, you may have multiple operations running at any given time.
It’s necessary to stay on track with all these operations and the management of a firm plays a pivotal role in making sure they are carried out smoothly.
Managers need to be two steps ahead and prepare for any possible threats and anticipate upcoming changes.
For this a management plan needs to be in place, without it, you become vulnerable to changing trends that can threaten our business.
Management plans will help address a variety of issues, not just during the initial phases of an operation but throughout its execution.
Simply put, a management plan ensures that everything operates smoothly.
The good news is that setting up a management plan will help you optimize all your processes.
The bad news? Creating a management plan usually trips most managers. But that’s why we’re here to not let you fall into the same traps that most managers get themselves into.
Read on and soon you’ll become a management plan expert…
What is a Management Plan? (Definition)
A management plan is a comprehensive plan that provides the objectives of any given project, clearly defines roles and responsibilities, and more to make sure it’s a success!
Your management plan is a resource that everyone in the firm can use for better guidance.
It is a blueprint for the way your organization runs, both day-to-day and over the long term.
A management plan generally outlines:
- the aims and objectives of a firm — what are we trying to achieve?
- the strategies used to meet the objectives — how will we achieve it?
- the methods used to measure performance — how will we know if we are achieving it?
No matter the size of your organization, the core intent of your management plan will be to ensure that the organization is running as effectively as possible.
Let’s dive a little deeper and get to know management plans better…
Benefits Of A Management Plan
To make sure that an organization is working smoothly, a lot of processes need to be handled simultaneously.
If you leave everything for the last minute, hoping that it all works out when the problems arise, you’d be in deep waters.
So to keep up with daily tasks, manage emergencies as they arise, and to not let projects slip through, you need a management plan.
There are a lot of benefits of having a management plan in place, some of them are:
- Defines roles and responsibilities so everyone knows what’s expected of them: Employees need to know who their reporting managers are, who they should consult and go to in case of any need of information. They also need to be aware of the limits of their work, when they need a sign-off from some authority, and when they don’t. All of this can be easily done with the use of a management plan.
- Allocates Tasks: A management plan also divides the work within an organization in reasonable and feasible ways, so that everyone is not only achieving their goals but also doing them in a way that doesn’t burn them out.
- Increases accountability: When tasks and duties are determined, people can be easily accounted for. If daily tasks are not being attained within the allocated time, then the internal team is failing whereas if the CSR activities are not being conducted, then it’s the management who’s failing.
- Creates an effective timeline: A management plan creates a timeline that ensures that bills are being paid on time, staff members are where they’re supposed to be to provide the organization’s services, funding proposals get written and submitted, problems are quickly dealt with, and as a result, the organization functions effectively.
- It helps the organization define itself: The management plan establishes a solid plan that aligns with the organization’s mission and philosophy. This helps the organization to never forget about its core beliefs and communicate this with clarity to its staff, its customers, and the community as a whole.
Read more: What Is Change Management And How To Cope With It?
How To Create A Sound Management Plan? (With Steps)
Step 1. Executive Summary
An executive summary is how you start your management plan.
It offers a brief overview of all the key components of the management plan. Be as concise as possible and keep your main points in mind as you write the summary.
Not every point needs to be included here but you need to ensure that the major ones are covered briefly. This summary should easily be understood and comprehended by people even if they don’t visit the entirety of the management plan.
Step 2. Vision Statement
The next step is to mention your vision statement. The vision statement is intended as a guide to help the organization make decisions that align with its philosophy and declared set of goals.
Vision statements are often confused with mission statements, but they generally serve long-term purposes whereas mission is more myopic.
Step 3. Mission Statement
The mission statement is a clear statement of what your organization does and how it will be managed. The mission statement describes:
- purpose of the facility — what is our business?
- why does it exist — what is our underlying philosophy?
- what it has to offer — what services or products do we provide?
- who will use it — what is our target group?
This helps to ensure that your team is committed to the mission. Both the vision and mission reflect the aspirations of the stakeholders.
Step 4. Goals
Once the mission and vision statement has been established, the next step is to work out how to achieve it. It is vital to identify the goals that will help you get to your mission. Goals reflect what you aim to achieve and give direction to your organization.
Goals are usually broad statements that have no time frames.
Step 5. Key Performance Areas
Key performance areas (KPA) focus on general areas of operation within an organization, where the desired outcome is required over the period of the management plan’s execution.
There are many key performance areas in your organization, you need to mention them all separately. Some of these KPAs are:
- Marketing
- Administration
- Finance
- Human Resources
Create a separate section for each one of them and mention what tasks are expected of them to attain your goals.
Step 6. Mention Policies & Procedures
You need certain policies and procedures in place, to formalize the operations across your organization.
This helps to create consistency and a cohesive environment. You can include working hours, dress codes, leaves, and more, depending on the needs and size of your organization, take your time to define policies.
Step 7. Future Considerations
Every business is at a constant threat of surprises. Thus, you need to base all certain future projections on these unknown problems. For example:
- What resources will be required to remain competitive in a technological sense?
- What building extensions, modifications, or upgrades to your facility will be required in the future?
Step 8. Revisit Your Plan
Your management plan needs to be super-professional and free of any errors as it is a representation of what your organization stands for.
Check for any typos, ask someone else to take a look and proofread it. Make sure that each owner gets a copy. They may send you edits and revisions too. Consider all these carefully and create a powerful, full-proof management plan.
This way you’ll be prepared for unprecedented times and your employees can be ready for what’s expected of them.
Creating a management plan without an intuitive and robust tool can be overbearing on any person.
Gone are the days of boring management plans, today we want something enticing and informative. How can you do that?
Bit.ai is the answer! Let us tell you more…
Create Your Management Plan The Right Way With Bit.ai
Bit.ai is a new age online document collaboration tool that helps anyone create an awesome management plan or any other document, in minutes.
Bit is the dream tool to help teams transform the documenting process, by making it interactive and collaborative.
Take a look at some of the many wonderful Bit features:
Real-Time Collaboration: When working on a document as comprehensive as a management plan, it’s obvious that you’ll be working with a team. At such times, it’s more important than ever to have a seamless collaboration experience! Bit facilitates exactly that with its real-time collaboration feature that lets you work on the same document together, comment to exchange ideas and chat on the side.
Smart Workspaces: On Bit.ai, you can create as many workspaces as you want around different teams and communicate in a much better way. For example, once the management plan is created, you can send the document to other owners for approval. And after their approval, you can send it to all the departments within a few clicks!
Media Integrations: No more hopping from one app to the other in search of information, Bit.ai integrates with over 100+ popular applications (YouTube, Typeform, LucidChart, Spotify, Google Drive, etc.) to help teams weave information in their management plan beyond just text and images.
Sleek Editor: Creating a management plan requires constant revisions and edits, with Bit’s minimal document editor, you can write your management plan without the distraction of unnecessary buttons and tabs. And given its simple design, you won’t have to spend hours creating your report.
Sharing: Bit documents can be shared in a way that all changes that you make to the document will be updated in real-time. If you are sharing your management plan with anyone, they will always get your latest changes. Interesting right?
A plethora of features: With many intriguing templates, document tracking, cloud-upload, document locking, and a myriad of such features, BIt is an all-rounded tool for all your documentation needs!
Trust us, your data is secure here and your work will become more efficient than ever with Bit, and given its free plan, it’d be a shame not to give it a try!
Our team at bit.ai has created a few awesome business templates to make your business processes more efficient. Make sure to check them out before you go, your team might need them!
- SWOT Analysis Template
- Business Proposal Template
- Business Plan Template
- Competitor Research Template
- Project Proposal Template
- Company Fact Sheet
- Executive Summary Template
- Operational Plan Template
- Pitch Deck Template
Conclusion
Effective management only comes after careful planning,
Your employees need to know how they can achieve the goals, the methods they need to use, and more for the smooth functioning of your projects.
Management plans offer that!
Having a management plan will shape your organization the way you want to and you’ll be able to improve your offerings too!
And trust us, there is no way around management plans, sooner or later you’ll realize their importance. With our tips and Bit by your side, you can create your management plans from scratch with precision and ease.
We suggest you get on with your management plan now and you’ll see the results they come bearing!
Have any queries? Tweet us @bit_docs and we’d love to hear from you and help you out with your management plan needs!
Further reads:
Resource Management Plan: What is it & How to Create it?
13 Types of Plans Your Business Must Have!
Management Report: What is it & How to Create it?
Mitigation Plan: What Is It & How To Create One?
Implementation Plan: What is it & How to Create it? (Steps & Process)
Business Development Plan: What is it & How to Create a Perfect One?
Process Improvement Plan: What is it & How to Create It? (Steps Included)
