Tools for Strategic Planning
There are several tools that Claricent Consulting Services uses in conducting Strategic Planning. Our most common tools are: Visioning, Metrics or charts, SWOT analysis, PESTEL analysis, Affinity diagrams, Portfolio analysis and Interrelationship digraph.
1. Visioning
Visioning answers basic questions such as what the organization wants to achieve in future, what it shall look like, what image it shall build in the minds of its prospects and who shall be the potential customers. Overall, visioning gives a futuristic revelation to the organization's present image and standing.
2. Metrics/Charts
Ideally, a strategic plan is incomplete without numbers, calculations and graphical representations. These are often ignored because people might not be confident with mathematics. However, in order to prove the visionary statement, it is important to have justifications through figures and metrics which will finally determine if the project will make a desirable impact.
3. PESTEL Analysis
An important planning tool used for understanding the external macro-level external factors that impact the working of an organization. PESTEL stands for Political factors, Economic Factors, Social Factors, Technological factors, Environmental Factors and Legal Factors.
4. SWOT Analysis
Conducting a SWOT analysis is a very effective tool to assess, analyze the current health of an organization and manage the organization successfully. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is also referred to as Internal/External analysis.
5. Affinity Diagram
An affinity diagram is useful for narrowing down large number of things into more organized and similar categories in order to make it easily manageable.
6. Interrelation Digraph
An interrelation digraph helps in identifying those few projects from the most significant.
7. Portfolio Analysis
Portfolio analysis refers to the process of analyzing the ongoing, past and present projects/programs of an organisation and assesses the performance of each.