We recently received the following question from an attendee during our ACHE Cluster session, Strategic Planning from Formulation to Action, in Phoenix:
How often should we go through a full strategic planning process vs. just update our existing strategic plan?
The need or desire to complete or update a strategic plan will vary greatly by organization. Generally, a full planning process should be completed every 3-5 years, and an update should be completed annually. However, a variety of factors may impact this timeline, and an astute leader should consistently monitor the organization and market environment to determine the need for a strategic plan change or update.
Examples of internal/external factors and the potential impact to strategic plan timeline:
How often does your organization undertake a full strategic planning process?