Summary

An action plan is a documented series of steps used to accomplish a specified goal. An organisation’s commitment to strategic planning is commensurate to the extent it completes action plans that are specifically designed for achieving its strategic goals.

Action plans commonly specify:

• goals that are to be accomplished
• the contribution of each goal towards organisational strategies
• the specific, measurable objectives that need to be accomplished in order to achieve goals
• the assignment of responsibilities required to achieve objectives
• the resources required to achieve objectives (for example, man-hours, finances, and equipment)
• the risks involved and how these will be managed
• anticipated timelines for the achievement of each objective.

Action plans are found at the heart of successful business plans; they influence how business goals are accomplished. Action plans provide defined steps for holding management and employees accountable for their work. In practice, adjustments are usually required as financial performance is reviewed, and as progress is regularly measured against objectives.

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