Action Plan

Action Plan

Action Plan Jonathan Poland

An action plan is a detailed strategy that outlines the steps and resources needed to achieve a specific goal. It includes a list of objectives, tasks, and responsibilities, as well as measurement criteria and deadlines for completion. In some cases, budget information may also be included. An action plan is similar to a small-scale project, as it outlines the steps and resources needed to achieve a specific outcome. The following are illustrative examples of action plans.

Projects

A project is running late and a project manager is asked to propose an action plan that will allow the project to catch up and launch on time. The project manager proposes cutting nonessential requirements, boosting the size of the testing team and asking developers to work long hours at special overtime rates. The following is an action plan representing the recommended course of action.

Marketing

An airline marketing team discovers that first and business class passengers are highly dissatisfied with the meal service on a London to New York route. They create an action plan to address the issue that involves market research, experimenting with new meals and selecting new suppliers.

Communication

In some cases, action plans are a communication device that represents an extreme simplification of complex programs and projects. For example, a city might use an action plan to communicate plans to improve a neighborhood with more green space, facilities, living streets and improved train service.

Learn More
Figure of Merit Jonathan Poland

Figure of Merit

A figure of merit (FOM) is a value used to evaluate the performance of a system or device. It is…

Examples of Tact Jonathan Poland

Examples of Tact

Tact is the ability to sensitively and skillfully handle a situation or conversation so as to avoid giving offense. It…

Product Experience Jonathan Poland

Product Experience

Product experience refers to the overall value that a product or service provides to customers based on their perceptions as…

Original Equipment Manufacturer Jonathan Poland

Original Equipment Manufacturer

An OEM (original equipment manufacturer) is a company that produces parts or equipment that is used in the manufacture of…

Product Innovation Jonathan Poland

Product Innovation

Product innovation refers to the development and introduction of a product or service that significantly improves upon existing offerings, often…

Best Industries for Selling B2G 150 150 Jonathan Poland

Best Industries for Selling B2G

The best industries for companies that want to acquire a government contract or grant are those that are aligned with…

What is Demand? Jonathan Poland

What is Demand?

Demand refers to the quantity of a particular good, asset, or other value that market participants are willing and able…

Product Requirements Jonathan Poland

Product Requirements

Product requirements refer to the documented expectations and specifications that outline the desired characteristics and features of a product or…

Negotiation Jonathan Poland

Negotiation

Negotiation is a dialogue between two or more parties with the goal of reaching an agreement. It is a fundamental…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Progress Trap Jonathan Poland

Progress Trap

A progress trap is a situation where a new technology, which has the potential to improve life, ends up causing harm due to a lack of risk management.

Economic Opportunity Jonathan Poland

Economic Opportunity

Economic opportunity refers to the support that a society provides to individuals that enables them to thrive in the economy.…

Types of Fallacies Jonathan Poland

Types of Fallacies

A fallacy is an error in reasoning that can lead to an incorrect conclusion. Fallacies can be found in arguments,…

Price Optimization Jonathan Poland

Price Optimization

Price optimization is the process of using data and analytical methods to determine the optimal price for a product or…

Research Skills Jonathan Poland

Research Skills

Research skills are abilities that enable individuals to effectively investigate, analyze, and communicate knowledge. These skills are essential for success…

Customer Dissatisfaction Jonathan Poland

Customer Dissatisfaction

Customer dissatisfaction refers to a customer’s negative evaluation of a product or service. It can be measured by asking customers…

Decision Framing Jonathan Poland

Decision Framing

Decision framing refers to the way in which a choice or dilemma is presented or structured. This includes the language…

Complexity Cost Jonathan Poland

Complexity Cost

Complexity cost is the cost associated with making something more complex. Complexity can have a range of costs, including increased…

Bank Derivatives Jonathan Poland

Bank Derivatives

Bank derivatives are financial instruments whose value is derived from an underlying asset, index, or other financial instruments. They are…