4 - Kuwait Oil Company

West Kuwait Asset Action Plan: An OverviewSubmitted by: Rima Al-Awadhi, Team Leader Planning (WK)Planning is generally a processwhich involves the determinationof future courses of action. It isa dynamic process which is veryessential for every organizationto achieve their ultimate goals.Planning bridges the gap from“where we are” to “where we wantto go,” and it makes it possiblefor certain outcomes to occurthat would not otherwise come tofruition if there was no planninginvolved.In other words, planning in anorganization can be definedas the process of creating andmaintaining a plan. It is a processof thinking about the activitiesrequired to accomplish a desiredtask or reaching the organizationalgoal. In short, choosing adestination, evaluating alternativeroutes, and deciding the specificcourse of the plan are the majorsteps involved in the process ofplanning.The importance of planning is thatit provides directions, reduces therisks of uncertainty, overlap andwasteful activities while facilitatingdecision-making and establishingstandards of control.The benefits of planning are that itincreases an organization's abilityto adapt to future eventualities,helps crystallize objectives, ensuresrelatedness among decisions,helps the company remain morecompetitive in its industry,reduces unnecessary pressuresof immediacy, reduces mistakesand oversights, ensures a moreproductive use of the organization'sresources and makes control ofcertain operations and tasks easier.Bad planning, on the otherRima Al-AwadhiTeam Leader Planning (WK)hand, can ultimately result inbusiness frustration or, at thevery least, prevent the businessfrom operating at its full capacity.The plan, however, provides avital paradigm against which theperformance can be rated andrestricts managers from makingbad decisions.The Action Plan includesthe following main steps:What is an Action Plan?An Action Plan is a process thathelps to focus ideas and decidewhat steps need to be taken toachieve particular goals. It is astatement of what to achieve over agiven period of time.An Action Plan also involvesidentifying the objectives, settingobjectives which are achievableand measurable, prioritizing thetasks effectively, and identifyingthe steps needed to achievegoals and meet deadlines whiletaking contingency plans intoconsideration.An effective Action Plan shouldgive a concrete timetable and set ofclearly defined steps to help reachobjectives rather than aimlesslywondering what to do next.8October - December 2012