Management System Planning

Planning is the subject of many sage quotes but arguably none so well known as “failing to plan, is planning to fail”.  It is unclear who first said this but from our experience it is as true today as it ever was.

Planning Cycle

Within the management system context (whether health & safety, environmental or quality) planning is the first phase of the continuous ‘plan-do-check-act’ cycle.

Plans are made:

-   before the management system is developed,
-   as part of the system development,
-   to manage communication and consultation,
-   to ensure implementation,
-   and otherwise throughout its life to ensure continuous improvement.

What to Plan?

Unfortunately this is one of those questions with a, less than helpful, “it depends” answer; with the variable being primary focused on the maturity of the system.

No Management System

If an organisation has no form of management system then the need for a system, as well as its size, purpose, structure and so on, all have to be determined. In this case the planning activities should focus on information gathering, stakeholder engagement and design specifications.

New Management System

Assuming the organisation has some form of management system, planning should focus on identifying those areas that require further development, as well as ensuring the effective implementation of existing elements. 

According to OSHEM Solutions’ Peter Gaul, these plans should be linked to risk. “It is very easy for organisations to get caught up in fads or those things they see competitors or other organisations focusing on. It is crucial that management system plans aim to continually reduce business risk and that management keep a focus on managing what matters in their business.”

Mature Management System

Organisations with a mature management system know that planning is about achieving objectives and continuous improvement. These organisations have a strong planning culture and use a combination of performance measures and corrective / preventative action to ensure they succeed.

Watch the video related to risk management

Tips and techniques from expert traders designed to make traders more successful and help them to eliminate the risk involved in trading.

Help answer the question aboutrisk management

In trading stocks which is a better risk management strategy ?
Higher numerical trades with low yields or one trade with a higher yield? Although the one trade may go south resulting in a the loss of a "grub stake"
kinda like not putting all your eggs in one basket, but what is a sensible amount of trades and risk to reward say with a $2500.00 investment?