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Business Planning – A Self assessment Tool

The Key Criteria

1. Does your business plan and process clearly establish the RSL’s vision and its strategic direction? Does it drive operational activities?

1.1 Is there a long term vision (around 5-10 years) that is translated into a series of phased, tangible and measurable aims and objectives that make clear how and when the vision will be achieved?

1.2 Is there a clear cycle and framework to producing the business plan?

1.3 Does your vision have explicit links to (or is it derived from) relevant corporate, government and other stakeholder plans and strategies?

1.4 Were the aims and objectives chosen in response to the expectations and needs of service users and the communities in which you operate?

1.5 Is the involvement in business planning by the governing body, committee and staff members effective?

1.6 If you are part of a group structure, is the business planning process consistent at the same time as allowing the appropriate degree of flexibility to the individual parts of the organisation?

2. Are your aims and priorities based on a thorough appreciation (research and analysis) of the challenges and opportunities facing the RSL?

2.1 The rationale for selecting your strategic / key objectives is easy to understand and you have carefully considered the options before including any major changes to your business

2.2 Are the risks to achieving your objectives assessed?

2.3 Does the business plan demonstrate that you have an understanding of the business and the environment in which you operate?

2.4 Does the business plan demonstrate that you have an understanding of the financial climate / environment in which you operate?

2.5 Is the rationale for stock growth – through new build or transfer / diversification / rationalization or new business / service development clear?

2.6 Has the analysis considered the condition and sustainability of your existing stock?

2.7 Is it clear how stakeholders (partners) and service users / potential service users’ views have been incorporated into the business plan?

2.8 Can you demonstrate that the targets and milestones set are attainable?

3. Does the business plan clearly articulate the ways in which the objectives will be achieved?

3.1 Is the risk management function rigorous?

3.2 Have you considered the impact on your organisation of having to take an alternative strategic direction to that planned (scenario planning)?

3.3 Are there up-to-date service and/or business plans in place that translate strategic objectives into departmental plans and staff performance targets (the Golden Thread)?

3.4 Does the business plan have clear supporting plan(s) setting out how proposed investment in new homes will be achieved?

3.5 Has the business plan clear supporting plan(s) setting out how objectives for maintaining and improving existing stock will be delivered?

3.6 Does the business plan have clear supporting plan(s) setting out how objectives for improving existing (or introducing new) services and functions will be delivered?

3.7 Does the business plan contain or refer to clear supporting plan(s) setting out how objectives concerning new constitutional arrangements / stock transfer / acquisition / joint venture / new subsidiary proposals will be delivered?

3.8 Is there a robust procurement strategy to support the delivery of business plan objectives?

3.9 Is there a comprehensive financial plan within the business plan that gives confidence that the aims and objectives can be delivered?

3.10 Is the financial plan underpinned by robust financial forecasting?

3.11 Have you carried out a full sensitivity analysis reflecting the risks you face?

3.12 Is there a HR plan to support the achievement of relevant business plan aims and objectives?

3.13 Is there a communications / marketing strategy to support the achievement of the business plan aims and objectives?

3.14 Is there an IT strategy to support the achievement of relevant business plan aims and objectives?

3.15 Is there a contingency plan in case of a fundamental change in direction?

4. Does the RSL have a credible and thorough system to review performance and outcomes against the business plan objectives?

4.1 How is the business plan used?

4.2 Is there a comprehensive range of performance measures (indicators and targets), which will measure progress towards achieving the desired outcomes?

4.3 Can you demonstrate that the way in which the business plan is monitored ensures that achievements are recognized and problems addressed?

4.4 Is the business plan process periodically reviewed?

5. Can the RSL demonstrate that it has achieved the objectives in its business plan?

5.1 Do you have a system for evaluating the outcomes from the business plan process?

5.2 You can easily demonstrate the positive differences made by your RSL?

Click on each criterion for further self assessment ‘challenge’ questions you may want to ask about your practice.