Annual Plans
To ensure the successful implementation of this Strategic Plan, Annual Action Plans shall be established and reviewed in the fourth quarter of each of the five years covered by the plan.
During this process:
- The Executive Secretary (Implementer) will review the work outlined in the multi-year strategic plan.
- Prioritization of activities for the upcoming year will be carried out.
- The planning team will engage in detailed planning for the selected initiatives, leading to:
- A deeper understanding of the tasks to be undertaken;
- Development of a performance plan for use by the Executive Committee to guide, monitor, and report on the Association’s progress throughout the year.
Progress Monitoring & Evaluation
During this process:
Performance monitoring will be conducted by the Executive Committee (Evaluator) on a quarterly basis using Quarterly Progress Reports aligned with the Annual Action Plan. These reports will include:
- Status updates on time-bound and measurable actions scheduled for that quarter;
- Progress updates on key events or initiatives that are underway or completed;
- Resource utilization metrics, including income and expenditures, human capital deployment, and procurement activities;
- Recommended amendments to upcoming plans or schedules based on insights gained.
Evaluation
At the end of each implementation year, and prior to the creation of the next Annual Action Plan, the Executive Committee will conduct an Annual Evaluation and report on ARMFA’s performance to the General Assembly.
The evaluation will assess progress toward the strategic objectives as outlined in the Strategic Plan and the Annual Action Plan, focusing on:
- Achievement of SMART targets (Specific, Measurable, Achievable, Realistic, and Time-bound);
- Use of performance indicators (PIs) specific to each strategic objective to develop evaluation metrics;
- Clear, numeric or observable measures of success;
- Utilization of predefined standards or benchmarks, where available, to assess initiative performance based on the relevant PIs.
End-of-Year Evaluation (2023 Example)
During the Fourth Quarter of 2023, the Executive Committee shall conduct a formal evaluation of the year’s performance and report to the General Assembly. This evaluation will include:
- A review of PIs to measure how well objectives were achieved;
- Use of project management metrics to assess whether initiatives were executed according to defined scope, quality, time, and budget.
Quarterly Performance Management Cycle
ARMFA shall institutionalize a quarterly performance management cycle built around the MERIL framework:
- Measurement – Tracking implementation progress using defined PIs;
- Evaluation – Interpreting performance information and identifying gaps;
- Reporting – Communicating performance results and deviations;
- Improving – Adjusting strategies, plans, and processes as needed;
- Learning – Capturing insights, sharing best practices, and enhancing organizational knowledge.
This cycle will be supported by appropriate technology and will be a cornerstone of effective strategy execution.