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Project plan - What to do
Strategic Plan - How to do it
Simple :-)
Strategic planning is a tool that prepares the organizations or companies to face future situations. Companies can direct their efforts towards realistic performance goals with that assistance. Strategic planning is essential to analyze the internal and external environment of the organizations. In this way strategic planning will be successful.
Project plan is the document that details the project’s goals, its participants, the processes needed for its completion, and anything else of importance to the execution of the project.
Project plan is the road map for the delivering of a project, whereas, strategy is creating and shaping the future in selecting contractors/ suppliers and contractual policies required for the execution of a specific project.
Project Plan is prepared by the Project Manager with the involvement of stakeholders and the impact is limited to the project cycle only.
On the contrary, Strategic Plans are prepared by the Top Management with the involvement of Business Owners / Sponsors and have long term impact on the Organisation, covering different Verticals / Business Units / Projects.
A project plan is a plan to achieve specific clear goals aligned to the overall company's goals.
A strategic plan is the plan which defines the overall company's goals based on the company's approved strategies.
To keep it simple
Project Plan - Limited scope usually related to a single project, Planned to achieve sucess for that particular project.
Strategic Plan- Larger scope usually used to set long term goals keeping future & organizational goals in mind.
project planning is the basic requirements required to complete the project and stratergy planning is a detailed plan for achieving success—the bundle of decisions and activities that we select to achieve our long-term goals—our path
I think in sample answer , Project plan is reach the (( Goal )) of that project , But project strategy is (( How to make Goal happen )).
A project plan is a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summarized or detailed.
Strategic plan is an Organization's process of defining its Strategy , or direction, and making decisions on allocating its resources to pursue this strategy.
Generally, strategic planning deals with at least one of three key questions:
1."What do we do?"
2."For whom do we do it?"
3."How do we excel?"
Many organizations view strategic planning as a process for determining where an organization is going over the next year or3 to5 years , although some extend their vision to20 years.
The projects businesses choose to pursue are determined, in part, by strategic planning. Strategic planning describes a process where managers form business objectives and create a strategy to achieve those objectives.
Difference between project planning & Strategic planning.
Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources.
Strategic planning involves looking at the organisation as a complete entity and is concerned with its long term development. This involves looking at where the organisation is now, determining where you want to get to, and mapping how to get there.
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