Thanks for sharing valuable information Greg! ( Log Out /  See my prior article at this link for more explanation. It means deliberately choosing a different set of activities to deliver a unique mix of value.” Strategy is … Tools and insights for turning vision into results, Need a strategic planning facilitator, implementation coach, neutral mediator, workshop, seminar, or hands-on program manager? 2) Rate the initiatives based on impact and ease of implementation. Greg Githens is the author of How to Think Strategically (2019). All strategic initiatives … A company defines the strategy based on the market demands and internal and external challenges. We also identify the key risks related to each goal, and design KRIs that can track those risks and act as an early warning system, thereby flagging up when the business is at risk of not achieving its goals. Note that your strategic objectives should describe your strategy—not just a typical strategy. The initial list contained 600 designated strategic projects, and it was clear to most that more focus was needed. When a fair amount of strategic initiatives can’t get off the ground without a precursor, the initial strategy becomes a necessary priority. As a general rule, a given business unit should have no more than 5 or so strategic initiatives active at any moment. They will spotlight our ability to be forward-looking and relevant in challenging times. http://www.brighthubpm.com/project-planning/128692-how-to-prioritize/. The company as a system to be transformed consists of different elements to be managed and continuously change… Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. The most critical role to define first is the initiative leader. KoltoKan’s project portfolio analysts were congratulating themselves and deserve some recognition for making progress. The Provost Office offers an anonymous form so you can raise issues important to you or respond to issues and activities on campus. Recommendation 4: Keep the number of strategic initiatives small. Evaluation is typically based on four criteria: feasibility, strategic fit, interdependencies, and; financial risk and reward. Strategic initiatives with defined objective linkages, scopes, descriptions, dates, and deliverables are an excellent start to clearly understanding your strategic project. Operational Excellence or Strategic Excellence? To stay ahead of the competition, companies need to systematically build a portfolio of strategic initiatives. You might want to read a series of articles on reviewing strategy documents, starting with this link . What are your favorites? I’d also like to take this opportunity to extend my thanks to the staff members who will continue to work through the semester break to keep KU running and prepare for next semester. Create a free website or blog at WordPress.com. If you are looking how to set strategic priorities as part of your strategic planning process, this webinar will help you write, identify and develop your objectives and strategic priorities. In the November 18 issue of Provost eNews, we mentioned that an exciting part of the planning process will be to identify and develop strategic themes at KU, so as to bring together individuals from multiple disciplines to form vibrant communities of scholars. Establish a value proposition. Recommendation 2: Examine strategic planning documents with a skepticism. In the same way, modern-day researchers who are experts in their individual disciplines inspire one another and build synergies to meet society’s grand challenges. ( Log Out /  Research Investment & Strategic Initiative Grant Program, RFA for the Higher Education Solutions Network from USAID, Sustaining the Planet, Powering the World, Post-Summit Report & Recommendations to the Provost, Building Communities, Expanding Opportunities, Harnessing Information, Multiplying Knowledge, Genomic Biodiversity Summit Opening Remarks, Genomic Biodiversity Summit Presentations, School of Architecture, Design & Planning, School of Journalism & Mass Communications, Sample of Research Centers and State Surveys Areas of Emphasis, Provost Retreat Summary, August 9-10, 2010, online discussion board of suggestions for strategic initiatives, KU faculty members selected for 2020-2021 Class of Senior Administrative Fellows, Four KU faculty members receive Distinguished Professor status, Holly Storkel named vice provost for assessment and program development, Stories of Resilience: How KU Rallied to Teach Remotely in Spring, Chancellor announces promotions, tenure for 2020, Identifying Strategic Themes and Initiatives. KoltoKan  listened to my whispers but respectfully disagreed. Not: WHERE is your strategy? To create an initiative plan, you need to define both your larger goal and what is required to achieve it. Greg Githens provides coaching, workshops, hands-on, and more. Contact him at [email protected] or 419.424.1164. The process will be as follows: In order to make informed nominations, it is important for departments, centers, and student groups to be aware of the many exciting and diverse activities at KU. A strategic objective is a business need that can be defined in quantifiable and measurable terms. This issue of Provost eNews is focused on forming strategic initiatives and how we need your individual and collective involvement in the process. At such a busy point in the year, I’m sure that, like my family and I did, you all enjoyed the break and the opportunity to spend time with family and friends, as well as to gather energy for the finish of the semester. Provide our students with unique experiences that will position them as highly recruited and valued drivers and innovators of social and technological change. Let Me Tell You a #Story, Strategy is Not Long-Range Planning, Vision, Mission, or Values, Five Ways to Involve Smart New Voices in the Strategy & Agile Innovation Conversation. Related resources: Involving Key Influentials in the Initiative Involving People Most Affected by the Problem Defining and Analyzing the Problem Describe the vision for the community or initiative (their dreams for how things should be). A strategic initiative plan may include multiple initiatives that are designed to work together toward a single larger goal. One of 34 U.S. public institutions in the prestigious Association of American Universities. Sometimes the strategic objectives are not clear, or are nonexistent. 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