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Strategic Planning

Strategic Planning

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Strategic Planning

Strategic planning is more than ensuring your association will remain financially sound and
be able to maintain its reserves—it’s projecting where your association expects to be in five,
ten, or fifteen years—and how your association will get there. It is a systematic planning
process involving a number of steps that identify the current status of the association,
including its mission, vision for the future, operating values, needs (strengths, weaknesses,
opportunities, and threats), goals, prioritized actions and strategies, action plans, and monitoring
plans.

Strategic planning is the cornerstone of every common-interest community.
Without strategic planning, the community will never know where it is going—much
less know if it ever got there. An important concept of strategic planning is an understanding
that in order for the community to flourish, everyone needs to work to ensure
the team’s goals are met. Team members include all association homeowners, the board
of directors, professional management—whether onsite or through a management company—
and various service professionals such as accountants and reserve professionals.
This team needs to work as a collective body to be successful. Part of the team concept
is the establishment of roles for the team players. Teams usually perform poorly if everyone
or no one is trying to be the quarterback.

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