What is a strategic framework

what is a strategic framework

DHS Strategic Framework for Countering Terrorism and Targeted Violence

A strategic framework is a structured method used to define how a project or initiative supports the key objectives of stakeholders. There are four components . The strategic planning process itself can sound dry and daunting, but a strategic planning framework makes it way easier to dig into the details of every element of your strategic plan. Use one (or even a few) of the eight frameworks we discussed here, and you’ll be ready to take action on your company’s most ambitious goals.

Strategy is vital to a successful IT project. A strategy guides project managers to design milestones that fulfill specific business objectives at each project stage. But how do you go about being strategic? What components must you consider? Fortunately, there is guidance. A strategy framework can help you consider a variety of frameworrk and components of your proposed IT project, helping you reach what is a strategic framework how to dye someones hair during the planning and execution processes.

A strategic framework is a systematic, structured method that helps you define how your IT project or initiative supports business goals and stakeholder objectives. Think of what is a qtree in netapp chemistry or math equation, where you must account for the right mix of variables to produce the expected outcome.

A strategic framework is similar—you piece together the relationships and resources and activities needed to create a valuable business outcome, then you document it. As a result, teams can evaluate their IT strategy before implementing and spending resources on a project.

An IT strategy framework can be useful in a variety of situations. Consider if any of these scenarios have occurred to you before:. If you can relate, take the extra effort to put together sstrategic strategic framework for your next IT proposal.

Developing a strategy framework for your IT projects offers a variety of benefits. The framework also framwwork you consider interactions between projects—helping you decide which projects are worth it now, and which may become more valuable down the line. At a higher level, your framework shows your strategic approach, which can open opportunities for you and enable you to better engage in high-level conversations about the business.

Then, project and team managers can carry this positive what is a strategic framework to their teams, making employees understand how their work is vital to the business, which is essential for morale. And consider how this strategy can promote your project even as management changes. An IT strategy framework offers benefits beyond successful project planning and execution.

Once your project starts delivering, you can collect lessons learned which contribute to an environment of continuous improvement. Your framework can also be used as an opportunity to limit shadow ITthe practice of bypassing organizational approvals in adopting technology whzt and resources.

Your framework can largely define your IT strategy and concepts, or it can relate to a specific IT project. Whichever situation, put those aside for a moment and start with three aspects of your company.

Consider and framewoek out the MVG of your frajework. Now, the MVG becomes the foundation for your strategy. Next, begin brainstorming and defining these four components of your IT project:. Your IT project should align with and help maintain the goals of appropriate stakeholders.

The stakeholders of your IT strategy framework include:. Choosing the right framework model depends on your unique requirements, resources, and opportunities. There are dozens more strategic frameworks easily available, but not all are intended for or a good fit with IT projects. With your strategy in place, your project heads into the real world. Of course, the reality is often different from your planned scenario.

Therefore, you should be able to measure both your project milestones and x impact of decision choices beyond the project. The metrics and benchmarks used to evaluate performance should present accurate picture of the project progress in context of organizational goals intended with the project.

Your reporting methods should empower the project team with ztrategic and timely information. Finally, clearly define your targets, identifying optimal outcomes frameworrk context of the constraints involved.

I should maximize the performance of a project aiming for targets that are realistic and achievable. Remember that measuring your applied strategy should consider two areas: the individual project and the impact of your project on the overarching ITSM environments.

Decisions made for a particular Straategic project have a strategic impact on other projects and services managed by the organization. Decisions surrounding resource allocation and performance expectations should evaluated before deciding to initiate, extend, or end a project. The Gartner Magic Quadrant for ITSM is the gold-standard resource helping you understand the whzt of major ITSM software vendors, insights into platform capabilities, integration opportunities, and many other factors to determine which xtrategic best fits your needs.

These postings are atrategic own and do not necessarily represent BMC's position, whar, or opinion. See an error or have a suggestion? Please let us know by emailing blogs bmc. Muhammad Raza is a Stockholm-based frameowrk consultant working with leading startups and Fortune firms on thought leadership branding projects across DevOps, Cloud, Security and IoT.

January 27, 5 minute read. What is a strategic framework for IT? Do I need a strategic framework for my IT projects? Benefits of using an IT strategic how to recover the shift deleted files in windows xp Developing a strategy framework for your IT projects offers a variety of benefits.

A template transforms abstract strategy into actual deliverables. A template can include multiple projects, so you can realize the strategic plan for an IT project. A business case. Farmework is a formal justification for a significant expense that considers methodologies, risks, and alternatives. Your strategic framework complements these documents and strengthens your project. Next, begin brainstorming and defining these four components of your IT project: Business objective.

What will your project achieve that will help the business achieve their goals? What high-level steps will you follow to realize that achievement? How strategiic you measure and report on this achievement? Which forecasted improvement will you iw to define success? Measuring your IT strategy With what makes the ozone layer strategy in place, your project heads into the real world.

Download now. You may also like. Muhammad Raza Muhammad Raza is a Stockholm-based technology consultant working with leading startups and Fortune firms on thought leadership branding projects across DevOps, Cloud, Security and IoT.

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Jun 25,  · In a strategic business framework for organizational planning and success, your strategies, goals, and action plans intertwine and build upon each other to create the appropriate steps to accomplish your mission and vision. Jan 27,  · A strategic framework is a systematic, structured method that helps you define how your IT project (or initiative) supports business goals and stakeholder objectives. Think of a chemistry or math equation, where you must account for the right mix of variables to produce the expected outcome. Strategic planning has a basic overall framework. Not to oversimplify the strategic planning process, but by placing all the parts of a plan into the following three areas, you can clearly see how the pieces of your plan fit together: Where are we now? Review your current strategic position and clarify your mission, vision, and [ ].

There are literally hundreds of strategy frameworks out there, ranging from simple to extremely complicated. This can make choosing the best strategy frameworks for your own organization very hard. We're going to talk through 5 of the best strategy frameworks, to help you decide which is right for you. First things first though - let alone the best strategy frameworks, why do you even need a strategy framework? The main reason is to help keep you focused on your goals. There are 3 key steps in implementing a strategy framework.

Each of these steps will help you to focus more deeply on your strategy:. Bonus: Download your Strategic Frameworks eBook! It contains 5 of the best frameworks and help you pick the right one for your organization! We've picked out 5 of the best strategy frameworks below, and for each one have outlined why they're useful. We've also provided examples of what types of organizations might use them. A key part of choosing the right framework is self reflection about your own organization.

What are you trying to achieve? What are your main strengths and weaknesses? All these factors will play heavily into your selection of the best strategy framework. As you go through and create your strategic plan, think carefully about each goal you create. How does each goal fit into your chosen framework? You may even find that some goals don't fit at all.

While creating goals for your strategy, apply your strategic framework to the goals you've created. This process will force you into thinking deeply about alignment between your goals, strategic framework and overarching vision.

Tools like Cascade help you to analyze how well aligned your strategic plan is with your strategic framework. Cascade allows you to view the percentage of goals in your overall strategy sitting in each element of your framework. This will help you determine the amount of focus you're giving each element in your strategic framework. There are other benefits to implementing a strategy framework.

This includes helping your people understand how their own goals fit into the bigger picture. For this article we're going to assume that you're already sold on the idea of using a framework for your strategy. Instead, we'll move on to looking at what we consider to be the best strategy frameworks out there.

McKinsey's Strategic Horizons are all about keeping you focused on growth and innovation. This strategy framework requires you to categorize your goals into 3 different 'horizons':. This encompasses the activities that are most closely aligned to your current business. Most of your immediate revenue making activity will sit in horizon 1.

Your goals in horizon 1 will be mostly around improving margins, bettering existing processes and keeping cash coming in. Emerging opportunities are about taking what you already have, and extending it out into new areas of revenue-deriving activity. There may be an initial cost associated with your horizon 2 activities. However, these investments should return fairly reliably based on them being an extension of your current proven business model.

Examples of this could include launching new product lines or expanding your business geographically or into new markets. Your blue sky horizon 3 goals will be all about taking your business in new directions.

These may be unproven and potentially unprofitable for a significant period of time. This would encompass things like research projects, pilot programmes or entirely new revenue lines that require significant upfront investment. This will change based on your risk appetite and resource availability.

McKinsey's Strategic Horizons is a great strategy framework. This is because it keeps you focused on constantly growing your organization and creating future revenue streams. Many organizations become fixated on driving their current profit margins. This is great for the short-term but the lack of diversity introduces significant risk to your business. This may be from changes in the market, customer demand or competitive activity.

This is a very versatile framework, and is applicable to the vast majority of organizations and industries. The framework is particularly popular among fast-growing organizations such as startups who need to maintain a fine balance between their cash-flows and their growth rate. The Value Disciplines approach works on the assumption that an organization is most likely to excel at what it is already good at.

You're encouraged to choose one main value discipline for your organization and ensure that you have sufficient components in your strategy driving towards this discipline. An organization that focuses on operational excellence will aim to provide its customers with high quality products or services at competitive prices with low barriers to purchase. You would focus internally on the streamlining of processes - making as few errors as possible and minimizing superfluous services.

Standardizing and increasing economies of scale are part of this procedure. Your organization feels that its customers are the most important aspect of its business. Obtaining a once-only large transaction is less attractive than creating a long-lasting intimacy bond with customers. An organization that focuses on product leadership will always strive for product development and product innovation.

You would strive to create a continuous stream of innovation that is in demand with both loyal and new buyers. Value disciplines is one of the best strategy frameworks out there.

It's all about focus, focus and even more focus. When you apply this strategy framework, you acknowledge that you will likely only truly excel in one type of business model. You divert all of your energy into this approach - thus maximizing resources and minimizing distractions. Again, this flexible framework is applicable to a wide range of industries and products.

If your business is by definition already firmly in one of the disciplines, then this model could arguably add less value. For example if you're a consulting firm, it's likely that your focus will naturally be on customer intimacy - so the additional focus introduced by the framework might be of limited value.

If you're in an industry where the same product is being sold multiple ways such as airlines then the value discipline approach will make more sense and help you to differentiate more strongly.

Whilst not a well known model in the broader business world, the stakeholder model looks at strategy a slightly different way. It looks in terms of bringing the focus back onto adding value for specific groups of people:. Goals that directly enhance the well-being of employees would fit into group 1. This could be direct financial goals such as salary increases or intangible benefits to this group such as training and facilities.

Goals and outcomes that benefit customers - such as product improvements or increased accessibility would fall into group 2. Most organizations bring an element of community benefit such as job creation.

Others go much further and are entirely dedicated to improving the local community. Such goals would fall into group 3. Whilst this model is popular among not-for-profits, many profit-making organizations also adopt the stakeholder model. The component of their goals that go toward directly enhancing the bottom line would fall into group 4. You could look at group 5 as an extension of group 3 community.

Goals that will bring benefits to broader society people who aren't customers and aren't in the local community would be categorized here. This includes major technology advancements, research or environmental work for example. The nice thing about the stakeholder model is that it's both extremely flexible as well as easy-to-understand for employees and other people outside of the organization. It's also often extremely motivating to see a clear link between your work as an employee and direct benefit being realized by another human being.

Not-for-profits and academic institutions do really well with the stakeholder model. Often, the grants and funding upon which they rely are directly tied to them being able to demonstrate benefit to stakeholders in the real world, so this model comes in handy when applying for this kind of financial support.

The model is also extremely 'outward friendly' - meaning that organizations who use the stakeholder model often like to publish their pie charts and results on their public website. The purpose behind this is to help prove what a positive impact they're having on their stakeholders.

We couldn't do a round-up of the best strategy frameworks without mentioning the balanced scorecard - arguably the most popular strategy execution model on the planet. The balanced scorecard is built on the premise that your businesses strategy should be equally divided into the 4 quadrants below:.

This quadrant is about understanding and improving your customers' satisfaction and their requirements from your organization and what it delivers, whether it's products or services.

The financial quadrant should include all of your goals related to improving your bottom line or other key financial KPIs such as liquidity or margin.

This quadrant is around measuring and improving your critical-to-customer process requirements and measures internally. This quadrant also sometimes known as the people quadrant focuses on how you educate your employees, how you gain and capture knowledge, and how you use it to maintain a competitive edge against your competitors. The key to success with the balanced scorecard, and the thing which many organizations overlook, is that setting goals within these quadrants is not enough on its own.

For organizations to find success using the Balanced scorecard, clear numerical KPIs should be created for each quadrant of the scorecard. The KPIs for each quadrant should also be regularly tracked and reviewed. Balancing goals between the quadrants is important, but balancing outcomes is what the balanced scorecard is really all about. Depending on your needs, you can implement the balanced scorecard as simply or complexly as you like.

Its popularity means that there are tons of help resources out there, as well as highly trained consultants that can help you implement it within your own organization. From our own internal research with clients using Cascade , we do indeed see a strong correlation between the success of a strategic plan, and how evenly balanced it is across the 4 quadrants. What kind of organizations might use The Balanced Scorecard:. For a long time, the business world has viewed the balanced scorecard as one of the best strategy frameworks around.

The balanced scorecard is very attractive to medium size organizations and above partly due to it's popularity with consultants.


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