Q&A: How often should we review and update our strategic plan?
How often should we review and update our strategic plan?
The short answer: It depends, but at least annually.
Here’s a practical approach to reviewing and updating your plan:
Conduct a formal Annual Review: At a minimum, dedicate time once a year for a formal review of your strategic plan. This is a chance to assess overall progress towards your long-term strategic goals and evaluate if the goals themselves are still the right ones, given any major shifts in your operating environment or community needs.
Schedule more frequent Implementation Check-ins: While the big, overarching goals might only need an annual review, the specific actions you take to reach those goals (often called implementation objectives) likely need more frequent attention. Consider quarterly or semi-annual check-ins to track progress and identify roadblocks or challenges. You can also update or create new implementation objectives annually, with staff input, to keep the actions relevant.
Adjust as needed: Your annual review and implementation check-ins offer opportunities to adjust near-term actions and objectives based on your current reality. Is a planned initiative no longer feasible? Did a new opportunity arise that aligns with a goal? Don't be afraid to make changes outside of scheduled reviews if circumstances demand it. Significant events (like major funding changes, unexpected crises, or groundbreaking opportunities) might necessitate an immediate revisit of parts of your plan.
Keep communicating: If you do make adjustments, communicate them. Consistently monitoring and communicating progress keeps the plan relevant and maintains accountability. Periodic reviews are also a great reminder to share progress broadly with key stakeholders.
By regularly revisiting your strategic plan, assessing progress, and making necessary adjustments, you ensure your plan remains a powerful tool that truly guides, inspires, and empowers your organization to achieve its mission.
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