Periods are sub-sections in which strategies are implemented. They include smaller-scare business and technology visions, status, drivers, duration, improvements, expected results, and actual results.
The business and technology visions are the things that the business is trying to accomplish in the given period. The visions should be divided based on the type of vision. Business visions include things like increasing market share in an area. Technological visions include things like updating operating systems of a specific department. The visions are important because they describe what the business is trying to achieve during the strategic period, and thus, can be used to define future improvements.
The period's status is the stage of completion it has progressed to. The statuses should include planning, approved, executing, completed, on hold, and abandoned. These statuses let the business know when the strategic period is ready to be implemented, and when it has been completed. Furthermore, abandoned strategic periods let the business know that the approach was flawed in some way, so that they can determine what the problem was before they try something similar.
Drivers are the reasons that the sub-section of the strategy has been created. It can include internal drivers, such as a problem with a company division, and external drivers, such as a strong competitor. This section is important because it explains the reason for the strategic period, allowing the period to be discontinued if the reason no longer exists.
The duration of the strategic period is its start and end dates. These should be defined before the period begins, and are used to determine if the period is proceeding according to schedule.
Improvements are the changes that the period makes to complete its visions. They are created in the form of work items, and are assigned to teams by the governance team and owner of the strategy. Improvements are important because they are the way in which the strategy is implemented.
During the period, the governance team should list the expected results of the improvements. These are the things that the governance team expects will happen, based on what is done. After the period ends, the governance team should list what actually happened. This record will allow them to see how what they expected was different from what happened, and determine what caused the changes. The causes should be considered in the future, when creating new improvements and determining expected results.
The business should keep a record of periods to consider what was done towards the strategy. The record will help the business determine if the period was successful, and influence its planning of future periods.