What are business planning tools

The OEC will serve as the basis for major, minor and program requirements for the academic year.

What are business planning tools

The seven tools[ edit ] Affinity diagram KJ method [ edit ] Affinity diagrams are a special kind of brainstorming tool that organize large amounts of disorganized data and information into groupings based on natural relationships.

It was created in the s by the Japanese anthropologist Jiro Kawakita.

what are business planning tools

It is also known as KJ diagram, after Jiro Kawakita. An affinity diagram is used when: You are confronted with many facts or ideas in apparent chaos.

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Issues seem too large and complex to grasp. Cause-and-effect diagram Interrelationship diagrams IDs displays all the interrelated cause-and-effect relationships and factors involved in a complex problem and describes desired outcomes.

The process of creating an interrelationship diagram helps a group analyze the natural links between different aspects of a complex situation. Tree diagram[ edit ] This tool is used to break down broad categories into finer and finer levels of detail. It can map levels of details of tasks that are required to accomplish a goal or solution or task.

Developing a tree diagram directs concentration from generalities to specifics. Prioritization matrix[ edit ] This tool is used to prioritize items and describe them in terms of weighted criteria.

It uses a combination of tree and matrix diagramming techniques to do a pair-wise evaluation of items and to narrow down options to the most desired or most effective. Popular applications for the prioritization matrix include return on investment ROI or cost—benefit analysis investment vs.

Matrix diagram or quality table[ edit ] This tool shows the relationship between two or more sets of elements. At each intersection, a relationship is either absent or present. It then gives information about the relationship, such as its strength, the roles played by various individuals or measurements.

The matrix diagram enables you to analyze relatively complex situations by exposing interactions and dependencies between things. Six differently shaped matrices are possible: Process decision program chart[ edit ] A useful way of planning is to break down tasks into a hierarchy, using a tree diagram.

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The process decision program chart PDPC extends the tree diagram a couple of levels to identify risks and countermeasures for the bottom level tasks. Different shaped boxes are used to highlight risks and identify possible countermeasures often shown as "clouds" to indicate their uncertain nature.

The PDPC is similar to the failure modes and effects analysis FMEA in that both identify risks, consequences of failure, and contingency actions; the FMEA also rates relative risk levels for each potential failure point. Activity network diagram[ edit ] See also: Program evaluation and review technique This tool is used to plan the appropriate sequence or schedule for a set of tasks and related subtasks.

It is used when subtasks must occur in parallel. The diagram helps in determining the critical path longest sequence of tasks. The purpose is to help people sequentially define, organize, and manage a complex set of activities.The top free project management software options.

Bitrix Business management software for small and midsize businesses.

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Bitrix24 is a collaborative business management solution designed to unite customer relationship management (CRM), project management (PM), human resources (HR), and workflow automation on one platform.

A business plan is a crucial activity for any entrepreneur or business owner looking to start or expand their business. Without a plan a business is likely to fail or stagnate. BizConnect provides a Free Business Plan template that asks all the right questions so that you can start thinking about important business aspects such as: ncludes.

Lean business planning is a simple but also powerful and effective way to work management, accountability, performance metrics, strategy, tactics, and execution into the everyday working of your business .

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Jun 10,  · This feature is not available right now. Please try again later. This article is part of our Business Planning Guide—a curated list of our articles that will help you with the planning process!

Business plans go by many names: Strategic plans, operational plans, internal plans, Lean Plans, and many others. You might need different kinds of business plans. The Guides are designed as a template for either new or more established businesses to cover key aspects of the business planning process.

what are business planning tools

The guides contain valuable concepts, insights and practical planning tools to assist in the business and financial planning process and can also be used to review your goals on an annual basis.

Lean Business Planning | by Tim Berry