Good Governance - B.1. Strategic Planning
The board and management articulate a strategic plan which spells out the key strategies and plans of action that will be implemented in order to perform the legislated mandate of the institution. A strategic plan usually spans a period of from three to five years, is periodically reviewed and fine-tuned, and is further detailed and rendered precise by annual plans.
These five guidelines will support an institution’s strategic planning activities. The guidelines are underpinned by a cyclical process of planning, budgeting, implementation, monitoring and review. Open communication channels are important to facilitate and sustain the buy-in of stakeholders and the alignment of efforts. Tracking and measurement tools enable continuous monitoring and, when necessary, timely interventions. A review phase will inform the next cycle of strategic planning.