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strategic plan

A top-level document that states an organization's vision and mission and describes how the organization will pursue them, specifying the goals and objectives to be achieved within the period the document covers.

Key Points

  • Connects vision and mission to clear, prioritized goals and objectives.
  • Defines strategic themes, initiatives, and success measures for a set time horizon.
  • Guides portfolio, program, and project selection and prioritization across the organization.
  • Reviewed and adjusted periodically to reflect performance results and environmental changes.

Example

A company sets a 3-year strategic plan to become the market leader in mid-sized retail analytics. It lists objectives such as growing ARR by 25% annually and achieving NPS of 60+. Strategic initiatives include launching an AI insights module and expanding to two new regions. Portfolios and agile product roadmaps are aligned to these objectives, and projects are funded based on their contribution to the plan.

PMP Example Question

During annual portfolio planning, leadership asks for the document that links the organization's vision and mission to measurable enterprise objectives over the next three years to guide project selection. Which document are they requesting?

  1. Business case
  2. Project charter
  3. Strategic plan
  4. Benefits management plan

Correct Answer: C — Strategic plan

Explanation: The strategic plan expresses vision and mission and outlines the approach, goals, and objectives over a defined period, providing direction for selecting and prioritizing work. The other documents are project-specific or benefits-focused.

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