While planning is excellent for structure and expectations, we agree that life happens and occasionally spoils our plans. So, yes, we believe you should try to be accurate and stick to your annual plan, but that doesn't mean you shouldn't alter it.

It's true, sometimes owners bail on projects too early, causing them to miss out on growth and setting back their value creation. But did you know spinning your wheels on an unprofitable project is just as bad as bailing on a project too early?

We suggest beginning with a quarterly review of the progress that has been made. If an initiative or objective is not progressing with expectations or keeps rolling forward each quarter, you might want to look into why.

By looking into why these projects and action items are consistently being rolled forward or not progressing how you imagined, you can begin to narrow down inefficiencies and decide if now is not the time for that item.

Value Scout helps narrow these inefficiencies down by the labels we offer, such as department, owner, and priority. Maybe a specific department or individual consistently has to roll items forward. By performing a quarterly review, you can better identify which department or individual.

You may also alter your annual plan when reviewing your quarterly plan. Value Scout also requires a disposition reason to be added to initiatives if they have not been completed by the end of the quarter, which will explain why an initiative is consistently being rolled forward. The choices for a disposition reason are "rolled over," overcome by events ("OBE"), and "abandoned.". Depending on the disposition type, you may decide to alter your quarterly plan and ultimately alter your annual plan.

Furthermore, you may notice that the department or individual in question has issues with setting accurate priority levels. It would help if you worked with them to understand their expectations.

Each objective and initiative has a progress tracking bar to see how quickly something is being completed or if an item is not progressing as quickly as you expected. Suppose this is the case and is consistently happening. In that case, you may need to re-evaluate your timeline and the objectives and initiatives included in the quarterly and annual plans.

For a deeper dive on operations excellence and identifying inefficiencies, check out this webinar with Sara Hartary on Guidon: Operations Excellence and Value Creation.

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