University of Engineering & Technology, Lahore

Engineering
Management & Law
Week-3
Planning & Forecasting
Prof.Dr.G.M.Mamoor/

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 Topics for this week

Explain the importance of planning

Identify missions
Explain the roles of goals and objectives
Identify strategies
Define the different types of forecasting
Describe the Delphi Method
Define different approaches to forecasts
Discuss some strategies for managing technology

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 Planning

•Planning is the work done to predetermine a course of

action, in order to provide focus and direction for enhancing
the efficiency and effectiveness of the company.

•Provides method for identifying objectives

•Design sequence of programs and activities to achieve

objectives

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 Planning

• Planning is made necessary by rapid change

of (a) Technology ( web-based tools,
broadband communications options, mobile
access), (b) Environment (globalization,
competition, marketplace), and (c)
Organization (mergers & acquisitions,
networks, outsourcing and alliances)
• Planning defines who, how, where, when and
using which resources to do the what work

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 Planning

What must be done?

Who will do it?
How will it be done?
When must it be done?
How much will it cost?
What do we need to do it?

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 Planning

• What is the Problem/Purpose?

• Establish Goal/Objectives
• What Client Need Is Being
Satisfied by the Project?
• Identify Success Criteria

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 The Foundation for Planning

• Mission

• Purpose or Goal

• Objectives

• Strategies

All Customer Driven

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 Planning

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 Strategic Planning

Vision/Mission

SWOT Analysis Gap Analysis

Goals

Objectives

Strategies

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 Strategic Planning

Mission

Goal 1 Goal 2 Goal 3

Objective 1 Objective 2

Strategy 1

Strategy 2

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 Strategic Planning
• Define future activities which are worth doing by the
unit/company to assure that the company applies its
recourses (skilled manpower, time, money, physical
resources -equipment, facilities, business relationships)
effectively to achieve its short-term and long-term goals

•Suggests ways (strategies) to identify and to move

toward desired future states
•Consists of the process of developing and
implementing plans to reach goals and objectives

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 Vision

A vision statement describes in graphic

terms where the goal-setters want to
position themselves in the future.

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 Vision Examples

Department of Polymer & Process Engineering:

“To be the first choice of students desirous of undertaking
engineering education.”

Eastman Chemical Company

“To Be the World's Preferred Chemical Company”

Microsoft (1980’s)
“A personal computer on every desk, and every computer
running Microsoft software."
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 Mission Statement
• Resembles a vision statement
• Has a more immediate business focus with a time
horizon
Examples
Department of Polymer and Process Engineering

The mission of the Department of Polymer & Process Engineering is

to cultivate an environment through teaching, research, and service,
that fosters the technical, critical thinking, and communication skills
necessary for student and faculty to contribute to the engineering
profession and to the well-being of society.

12/08/21 Department of Polymer & Process Engineering U.E.T.Lahore Ch.E 404

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 Mission and Vision

• Mission • Vision - Company

Aspiration
• Why do we exist?
• Market capital
• Whom are we • Business standing
serving? • Ranking in
• What do we do to industrial sector
serve them? • Market Share
• Others.

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 Our Values

• Innovation • Trust and openness

• Honesty • Quality of work Life
• Quality • Empowerment
• Social responsibility • Initiative
• Continuous improvement
• Diversity and equal
• Stability
opportunity
• Collaboration
• • Respects for others
Accountability
• Open communications

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 Strategic Planning

Vision/Mission
Vision/Mission
Aligned towards meeting customer
expectations and within framework
Of organizations philosophy
’

SWOT
SWOT Analysis
Analysis
Gap Analysis Forecasting
Gap Analysis

Strategic Issues

Ongoing Strategic
Planning, Goals
Goals, Objectives
Objectives, Strategies
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 SWOT Analysis

• Internal • External
Strengths Opportunities

Weaknesses Threats

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