1. June 4, 2009

2. Overview of Contemporary Planning Planning holds a vital place in the working of any organization Long-term Short-term Involves assessing the following: Past performance Current position Future expectations Strengths and weaknesses Environmental conditions

3. Techniques Used for Planning Management by Objectives Management by Objectives Contemporary, popular, and advanced Methodology Clear defined goals and strategies are formulated at the top most level of management Communicated as guidelines for planning to middle and lower managerial levels Managers set their goals based on corporate goals Provides autonomy to managers

4. Techniques Used for Planning PERT & CPM PERT and CPM PERT = Program Evaluation and Review Technique CPM = Critical Path Method network techniques used in the planning process used for scheduling time bound project, which need proper coordinated and varied complex processes breaks the projects into related number of activities and arranges the activities according to the time of execution The shortest time to finish the process is determined and applied

5. Techniques Used for Planning PERT & CPM (cont.) PERT and CPM Suitable for production and manufacturing based organization Strict enforcement by the managers Outcomes Not only help in effective planning, but also in building management and self- leadership skills in employees Help in bringing out their creativity, knowledge and initiative taking abilities

6. Recommendations for Managers The managers should initially select overriding objectives The subordinate objectives should comply with the overriding objectives The managers should allow their subordinates to fix their own results in order, which satisfy their own goals Certain kind of training should be given on how to go about with this kind of participative decision making The work culture should be made more compatible and friendly Creativity and innovation should be encouraged

7. Conclusion Planning is vital to the success of any organization Planning involves a lot of work It is essential that effective technique should be selected based on an organization's resources and needs All business techniques of planning are effective if they are implemented effectively Organizations should build an organizational culture suitable for the planning technique before executing it

8. References Chary, S. N. (2006). Production and Operations Management (3rd Ed.). Tata McGraw-Hill. Lewis, M. & Slack, N. (2002). Operations Management: Critical Perspectives on Business and Management Routledge. Galloway, L.(2007). Organization and Management: Part I: Business Organization; Part II. Alexander Hamilton institute Management by Objectives. (2009). Retrieved June 3, 2009, from www.mgmt- uplink.com/smallbusiness/management/mbo/ Management by Objectives. (ND). Retrieved June 3, 2009, from www.mindtools.com/pages/article/newTMM_94.htm Pert Diagram and CPM Pert History (2005). Retrieved June 3, 2009, from www.envisionsoftware.com/articles/Pert_Chart.html