Integration gateway Business planning

Business planning is an integrative function and gateway because it involves the integration and combination of business objectives and strategies with candidate projects, resulting in a company strategy and aligned program and project portfolio. Here the business integrates its core competency and global partnerships with its internal business objectives and plans. Candidate projects are designed to carry out business investment goals. The integration of business interest and direction, with projects such as this ITS case study, is the second line of interface in fully integrating the project. Integration of business planning involves the use of the weighted scoring model and other integrative tools to score projects against business objectives.

In the case of ITS, one of its strategic objectives is to develop and test the feasibility of a variety of new transportation systems that would provide future customers and passengers with new levels of efficiency and effectiveness. The ITS project would score highly against this objective simply because it is directly connected to that business objective. ITS is "aligned" and thus integrated with the business itself, its capacity, its competencies, and its intended future.

Develop strategic objectives. The development of strategic objectives is a "roll up" task to business planning. Strategic objectives are developed after an audit of the business capacity and competencies, and the interests of stakeholders and management in directing business growth. Strategic objectives are developed as part of a brainstorming process, and then confirmed by top management and the board of directors. Objectives are then weighted based on their relative importance, providing a basis for later assessment of candidate programs of projects against weighted objectives.

The integration of business strategy and programs is the second line of integration following global interface. Integration ensures that all business owner and management expectations are embodied in documented strategic objectives, and that the global opportunities, both for markets and suppliers, are integrated into business decisions.

Better Business Planning

Better Business Planning

A business plan is an essential document for anyone commencing a new business, already in business and critical for anyone seeking funding from a venture capitalist. The business plan needs to be comprehensive, well thought and should contain sound business reasons. You can get all the info you need here.

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