Dwight D. Eisenhower put it well. “Plans are worthless, but planning is everything.” His point was that plans are instantly out of date, but the knowledge and skills gained by exploring scenarios, options and contingencies help people anticipate and react to events as they unfold. Coupling that with today’s rapidly changing environment suggests the need to change from annual planning to some sort of quarterly planning to facilitate better thinking and more frequent resource adjustments.
Shift from taking a week out once a year to do planning to taking a day out once a quarter. One methodology is rolling quarterly planning, capturing learning from the past quarter and adding one quarter to the plan each quarter.