ACTION PLAN IDENTIFICATION AND IMPLEMENTATION

The benchmarking process has been used to identify the present and projected result and performance gap. The actual solution to closing the gap may be the synthesis of several of the benchmark partner's ideas. In order to creatively identify new solutions, the following questions can be helpful:

• Put to other uses?

  • New ways to use as is? Other uses if modified?

• Adapt?

  • What else is this like? What other ideas does this suggest? Does the past offer a parallel? What could I copy? Whom could I emulate?

• Modify?

  • New twist? Change meaning, color , motion, sound, odor, form or shape? Other changes?

• Magnify?

  • What to add? More time? Greater frequency? Stronger? Higher? Longer? Thicker? Extra value? Plus ingredients ? Duplicate? Multiply? Exaggerate?

• Minimize?

  • What to subtract? Smaller? Condensed? Miniature? Lower? Shorter? Lighter? Omit? Streamline? Split up? Understate?

• Substitute?

  • Who else instead? What else instead? Other ingredients? Other material? Other process? Other power? Other place? Other approach? Other tone of voice?

• Rearrange?

  • Interchange components ? Other pattern? Other layout? Other sequence? Transpose cause and effect? Change place? Change schedule?

• Reverse?

  • Transpose positive and negative? How about opposites? Turn it backwards ? Turn it upside down? Reverse roles? Change shoes? Turn tables? Turn other cheek?

• Combine?

  • How about a blend, an alloy, an assortment, an ensemble? Combine units? Combine purpose? Combine appeals? Combine ideas?

A CREATIVE PLANNING PROCESS

It is highly desirable that more than one alternative way to achieve a goal be identified. It is also critical that each viable alternative be fully evaluated on its own merits and that a conscious choice be made to select the best alternative. For each alternative, consider the following process:

1. Develop a vision or a dream of what you would like to have happen.

2. Identify the critical success factors for achieving the vision.

3. Determine the required action programs.

4. Match resource requirements and availability.

5. Determine if the vision is feasible and either implement the required action programs or consciously decide to drop or modify the vision.

6. Implement the plan by assigning action plan responsibility.

7. Monitor performance versus expectations and revise the plan as required.

ACTION PLAN PRIORITIZATION

If more action plans are identified than can be implemented, it will be necessary to prioritize the action plans relative to the corporate goals and customers' needs, wants, and expectations. The process identified earlier in the discussion of prioritization of benchmark alternatives may be used for this purpose.

One aspect of action plan prioritization is the determination of the most desirable plan from a financial point of view. Evaluations of this type often involve the comparison of cash flows that occur in different years . Consequently, the time value of money has to be taken into consideration when deciding which plan is most desirable.

ACTION PLAN DOCUMENTATION

The action plan must be documented and the person(s) responsible for individual tasks must be identified:

• Use of Critical Path Scheduling Tools

• Action plan format

  • Technique for sequencing activities using Post It Notes

  • Importance of identifying milestones, deliverables, and decision-making roles

MONITORING AND CONTROL

A good way to maintain monitoring and control is through formalized periodic reporting of performance versus plan. Issues to keep in mind are:

Need to assign responsibility for ongoing review and evaluation

Use of a control chart for each variable with the responsible person identified

Just because the official benchmarking study has been completed does not mean that you are done. To the contrary, you must be vigilant in monitoring your competitor's activities by tracking the competitive performance versus plan. This is because things change and modifications must be made to recalibrate the results. Some items of interest are:

• Benchmarks may need to be recalibrated.

• Changes may occur in industry, customers, or competitors .

• How fast are things moving and in what direction?

• Critical success factors may change.

• New competitors may enter the field.

• Competition may be better or worse than expected.