Strategy Evaluation & Control

Strategy Evaluation & Control

After the strategy is implemented it is vital to continually measure and evaluate progress so that changes can be made if needed to keep the overall plan on track. This is known as the control phase of the strategic planning process. While it may be necessary to develop systems to allow for monitoring progress, it is well worth the effort. This is also where performance standards should be set so that performance may be measured and leadership can make adjustments as needed to ensure success.

Evaluation and control consists of the following steps:

i)             Define parameters to be measured

ii)           Define target values for those parameters

iii)          Perform measurements

iv)          Compare measured results to the pre-defined standard

v)           Make necessary changes