Types of plans

1. Prepared By

4. OBJECTIVES
Objectives are the goals, aims
or basic purpose, that organization
wishes to achieve over varying
periods of time. Objectives are the
ends towards which all
organizational activities are aimed.

6. Policies are the statement which acts
as guiding principles to govern action
usually of routine and repetitive nature.
Policies define the framework which
guides thinking and action of the
organizational members.

8. PROCEDURES
A procedure is the defined series of
related tasks or activities that has to be
followed in a chronological sequence by
which the work will be performed. It
denotes a list of systematic steps for
handling events that occur regularly. A
procedure guides action and decide what
will be the outcome.

10. METHODS
Methods are sub-units of a procedure; they
show clearly steps involved in a procedure.
Methods indicate the technique to be employed
to make the procedure effective. The primary
focus is on finding out the best way of doing a
piece of work.

12. RULES
Rules are specific statements that inform
what is to be done. They do not allow for any
flexibility or discretion. It reflects a managerial
decision that a certain action must or must not
be taken.

14. PROGRAMMES
A programme is a single-use plan which is
developed for a new and non-repetitive
activity. It defines the steps in proper
sequence that will be taken for the purpose
of achieving a specific objective.

16. PROJECTS
A project is a specific plan to
achieve a discrete and well defined
cluster of activities which will help
achieving the general objectives of
the company. Projects are separate
from normal operations because of
its special significance. Usually
the task of executing a project is put
under the charge of a project
manager.

18. BUDGETS
A budget is a statement of expected outcomes
expressed in numerical terms like cash outflow,
increase in productivity etc. Budget helps in
envisaging the resource requirement and the
expected outcomes of the activities. It act as a tool
of managerial control to regulate the resource
allocation and evaluate the results.