Lovett, P. (1988). Harvard Business Review.


Many companies, as part of their planning process, generate complicated reports filled with facts and figures. The best approach, however, is to simplify the decision-making process by answering 4 key questions in a concise manner: 1. What is the plan? 2. Why is the plan recommended? 3. What are the goals? 4. How much will it cost to implement the plan? The written presentation of each of these 4 points should be limited to one page. The answer to the first question should be phrased as a positive and specific future-tense statement of strategy that the decision maker can accept or reject. The actions to support the plan also should be listed. In answering the 2nd question, the key is to avoid giving too much or too little information. The manager needs to synthesize the rationale in such a way to give the decision maker confidence in the information and conclusions. The answer to the 3rd question should list the outcomes expected if the plan is adopted. Finally, the required financial and human resources should be thoroughly researched and listed.