Undertaking strategic initiatives is a key means of executing your strategy.
They should not, however, be undertaken lightly as they may incur significant costs.
StratNavApp.com allows you to manage strategic initiatives through a full lifecycle from inception through to completion.
The stages of this lifecycle are:
- Under consideration: the initiative is being considered but no decision has been made about whether to proceed with it or not.
- Mothballed: the initiative has been considered but it was decided not to proceed with it for now. Initiatives are mothballed rather than deleted so that you can record the fact that it was mothballed, and in case you want to reconsider the decision to mothball it at a later date.
- Proposed: the initiative has been proposed to a decision-making or governing body or committee, but they have not yet approved or rejected it.
- Approved: the initiative has been approved by a decision-making or governing body or committee, but work to deliver it has not yet started.
- Rejected: the initiative has been rejected by a decision-making or governing body or committee, and will not be delivered.
- Started: work has started on the delivery of this initiative.
- Completed: the initiative has been completed.
The Funnel View in the Planning section of StratNavApp.com allows you to see which initiatives are at each of these stages, and to move them between stages.