![]() Long term planning versus short term planning ![]() The versatility of the annual work plan template allows entrepreneurs to make quick calls without having to change the long-term strategic plans. In this type of scenario, time is of the essence and you need to secure funding quickly and be able to hire the extra manpower required. The 1-year timeline can also adapt to cover specific unique opportunities, like purchasing commodities from a competitor who is going out of business at a bargain. To save precious time, many project managers create a 1-year timeline template and only update it with new data as it comes along. Therefore, one of the preferred formats for the 1-year plan is as a timeline. A one-year plan should be a valuable tool in the back pocket of any project manager, as it has the advantage of covering a clearly delimited, foreseeable period of time.
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