Planning Systems for Strategic Development Classic Reprint

Excerpt from Planning Systems for Strategic Development

While ample attention typically is brought to capital invest ment decisions in long-range planning and strategic management, less attention is often given to the role of strategic development expenditures as vehicles for strategy implementation. While Undoubtedly most executives acknowledge the key importance of strategic development expenditures for corporate success, it often seems to be the case that the planning of strategic development projects is unduly separated from the thrust of the long-range planning process. Thus, these substantial expenditures may not contribute as much as they should to the strategic direction setting of the firm.

In this article we shall discuss a system for managing strategic development expenditures. While much progress has been made in understanding how to manage development expenditures 323 projects, less emphasis has been put on the role of such systems as part of the overall set of management systems. By taking the viewpoint that a planning system for strategic projects is part of a broader set of management systems, we shall explore its integration with the long-range strategic planning system as well as, less obviously, with the formal organization structure, the corporate strategy, the control system and the incentive system.

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