project management timeline template excel

#Project management timeline template excel how to#

Key performance indicators (KPIs) – metrics that indicate how your business is performing and what needs to be adjusted.

List of specific short- and long-term strategic goals – clearly outlining the trajectory your company needs to follow.

SWOT analysis – helping you determine the best opportunities to pursue, and identify the areas which must be developed to improve your company.

Mission statement – at an internal level, it helps employees align their efforts with the company’s overall goal externally, it inspires third parties (investors, customers, partners) to take the actions you want and support you.

Elevator pitch – a brief description of your business to clearly articulate it to important stakeholders.

Executive summary – summarizing all the sections of your plan.

What should be included in a 5-year plan?Ī well-thought-out 5-year plan used for business purposes is a well-rounded document or presentation that typically includes the following key sections:

#Project management timeline template excel how to#

To help you set a clear direction to your plans and kickstart your business planning, this page offers you a free, downloadable 5-year plan timeline template and information on how to use this type of visual. A well-written plan addresses investors’ top concerns and reassures them that your company is headed in the right direction to make a profit. Attract potential investors (especially for start-up companies)Ī 5-year plan is essential for both existing and potential investors. A long-term plan shows stakeholders why you exist, where you plan to go, how you intend to get there, and the impact of their voice on the decision-making process. You’ve made a list of your business goals, but how do you think that your company can achieve them? What’s your plan to get there? Such questions are on the minds of your investors, your customers, and your employees. Build confidence and engagement among stakeholders

Guide important decisionsĪ long-term plan clarifies business priorities and states the strategic objectives that will be the reference point during the decision-making process. Or redirect financial resources according to the assessed priorities. For instance, you can make strategic hiring decisions and adjust responsibilities among teams per forecast and estimated needs. Enable strategic planning and policiesĥ-year plans help forecasting and improving strategy when making decisions. It also promotes focusing on long-term objectives. You can use a 5-year plan to measure your company’s progress, which helps identify areas for improvement and opportunities for growth.

Communicate vision and goalsīuilt as a clear and specific roadmap for the company's future, a 5-year plan helps you share your vision with your team and clients by describing your long-term objectives and the key elements of your strategy.

But does it pay off? Let’s figure it out while going through the things that a 5-year plan can improve: 1. Why you should have a 5-year planĬreating a 5-year business plan can be challenging because it requires a lot of research, forecasting, and strategic thinking. Whether your goals for the next five years are to carry out a complex project or grow your business and start exciting new projects, a 5-year plan helps you gain insight, communicate your vision and effectively run your initiatives. It describes where you are now, what your objectives are and how you plan to achieve them. A 5-year plan is a long-term strategic roadmap for reaching specific goals.