Even the best business plan is worth very little if it is not implemented well. Therefore, it is important to include an implementation plan in it. The purpose of developing an implementation schedule is to provide the reader with the necessary information about the requisite steps for the execution of a strategy or change within an organization. Read on to find out more.
Implementation plan. What is it and how to create it? – table of contents:
- What is an implementation plan?
- What should be included in an implementation plan?
- How to create an implementation plan?
- Benefits of an implementation plan
What is an implementation plan?
What is an implementation plan? It’s actually a schedule that helps manage a project or business venture. It is also often called a strategic plan. Such a schedule outlines the necessary steps that must be taken to develop a product, service and the company as a whole. It shows how and when the various strategies included in the business plan will be implemented.
With an implementation schedule, you can break down the entire process into smaller steps and define all the resources that will be needed at each stage. This will set the course of action, determine the time of implementation and allow for proper allocation of the startup’s resources. The implementation plan illustrates all the business growth stages and makes it easier for the startup founder to act.
What should be included in an implementation plan?
In fact, the implementation schedule can have many formats. It all depends on the specifics of the company in question and the venture being implemented. Most often, the implementation plan includes such aspects as:
- Business goals – startup owners set different goals for their businesses, and they usually define them elsewhere in their business plans. Here, they are described just shortly.
- Success criteria – it is necessary to decide what criteria you will use to determine the success of your venture. This should be discussed with the stakeholders.
- Scope of activity – it is the description of the work to be performed.
- Resource plan – here you should define the human and technical resources needed to implement the venture.
- Risk analysis – you can recall the key findings from the SWOT analysis included elsewhere in the business plan.
- Schedule – an implementation schedule needs a clear implementation schedule. Only then will it be properly executed. Here you need to define the final deadline for the project, deadlines for the completion of individual tasks, other important dates related to the startup and the offered product or service.
- Milestones – you need to identify the key milestones of the venture. This will allow you to easily track progress and make any adjustments.
- Team members’ responsibilities – remember to assign specific responsibilities to company employees.
- Indicators – you should identify indicators to monitor the progress of the implementation plan, such as KPIs, OKRs and others.
How to create an implementation plan?
Writing an implementation plan should be divided into several stages. It is a good idea to start by defining what you will need to implement the entire schedule. It is necessary to determine what teams will be involved in the implementation of the venture, how much time it will take to achieve strategic goals, and what budget and resources should be allocated. It is best to interview stakeholders and key partners already at this stage, which will let you set priorities.
In the next part of the implementation plan. It is worth focusing on identifying risks that may arise during the implementation. Here you should define everything that may affect the execution of individual tasks (e.g. budget constraints, market instability). The next step is to delegate individual tasks to the appropriate teams, and choose the tools needed to conduct them.
The final step is to identify all the activities that will need to be carried out in connection with the implementation plan and set milestones. Finally, it is a good idea to prepare a brief summary of the implementation schedule, where the most important information will appear once again.
Benefits of an implementation plan
The main benefits of creating an implementation plan are:
- having a business roadmap – illustrating individual steps from the beginning of the venture until the achievement of a specific business goal,
- facilitating internal and external communication – both with team members and stakeholders, building their trust in the startup,
- identifying and organizing the necessary resources,
- defining actions that facilitate the achievement of short and long-term goals.
Read also: 7 important startup roles.
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