What is Operational Planning and how can Fintalent help you hire the best Operational Planning Consultants?
Operational planning (OP) is a method of analyzing how production and sales activities in large firms are allocated among different departments, product lines, regions, customers, vendors, etc. It is useful for benchmarking against competitor organizations.
The IPMA-HRM (International Project Management Association – Human Resources Management) definition of operational planning is: “the result of a systematic, well-structured approach to planning and implementing changes in the way business is currently conducted. It involves identifying and dealing with constraints; analyzing current operations; setting objectives; evaluating those objectives against standard operating methods; choosing processes that will achieve those objectives; selecting tools that will support those processes; developing strategies for achieving those strategies; and establishing plans for putting those strategies into action.
An OP can reveal whether or not cost structures are distributed efficiently with “sales” departments having the largest share of revenue generation activities. An OP also helps to determine which products/services should be expanded to meet future business opportunities.
Goal of Operational Planning Process
The goal of an operational planning process is to identify key objectives and constraints in order to create management hegemony on that project or decision-making area through strategic realignment or prioritization processes at that level.
Operational planning is a process of reviewing the current operations, creating alternatives and determining how to implement those changes.
Key Steps in Operational Planning
An operational planning process starts with an analysis of what is occurring at present. This analysis includes how resources are allocated, resources used, etc. The result of this analysis will be a current state picture. One goal is to make sure that these current circumstances are suitable for achieving goals in the future. Often, goals are established during strategic planning events or prior to it. Operational planning also involves setting objectives for what is to occur in the future. These objectives are based on the goals established in the strategic plan and any constraints that may be known at this point in time regarding them can be considered prior to developing plans to achieve them.
After the analysis of the current state, a determination is made concerning what is needed in order to achieve these objectives. This involves making a listing of any problems that could occur in achieving them and determining how to overcome those possible obstacles to success. In an organizational setting, the operational planning process includes getting buy-in from individuals responsible for carrying out tasks or activities listed in the operational plan by communicating this information and obtaining approval from them. The result of this phase of the planning process is a document that contains a detailed description of what will be happening in the short term (and often long term) future and how this activity will be carried out.
If obstacles are present, there should also be a description of how to overcome these obstacles. This document is referred to as an operational plan. The way to implement the operational plan is with an implementation schedule. The schedule will indicate when activities are to be carried out and who is responsible for carrying out each activity. This schedule will be referred to as the most likely series of activities that will occur, given that no one deviates from their responsibilities or there are no interruptions to these activities.
In some cases, a project manager will develop an operation plan, but someone else has been delegated responsibility for carrying it out. In this case, a different type of management plan should be developed in order to guide the person executing these tasks or assigning them out to other individuals or groups involved with them. Usually, the operational plan and operation plan are interrelated. There is usually a parallelism between the two as the operational plan will indicate how tasks will be carried out and the operation plan will provide details as to how those tasks will be carried out.
Note that process improvement activities that are carried out as part of an operational planning process may also fall under operations management. Process improvement activities may also involve identifying and removing waste and figuring ways to reduce costs and increase performance.
Why you need Fintalent’s Operational Planning Consultants
Operational planning is an essential part of firm management. It is a strategic tool used to manage the firms resources, which are divided into inputs and outputs, with some examples being staff hours, money spent, number of new members recruited, etc. Operational planning helps managers keep track of how much they have in-house resources and then develop plans that maximize business performance within a certain budget or time constraint. It can be used for both tactical and strategic purposes.
There are many benefits to operational planning including cost control which increases profits on the balance sheet as well as reducing risk by maximising efficiency through better resource allocation. Operational planning can also help with managing risk, improving productivity and increasing profitability. Operational planning is obviously an important part of business growth and development which makes hiring a qualified Operational planning expert an important task for firms.
Business managers can also look out of their firms to hire experienced operational Planning Consultants by looking towards Fintalent. Fintalent offers hiring managers a platform to hire freelance Operational Planning consultants to meet the immediate needs of their organizations.