How to create a project management plan: 4 tips for effective work organization

According to a PMI survey, over 70% of projects fail due to a lack of clear management planning or inconsistent objectives among team members. In Vietnam, many small businesses and startups are still hesitant to start because they do not grasp how to create a proper project management plan.

If you are looking for a simple, easy-to-implement guide to build an effective project management plan, this article will help you understand each important step: from defining goals, building a management structure, to organizing operations and controlling progress. By following the correct process, you can ensure all members share the same direction, optimize resources, and increase the likelihood of completing projects on time.

This is a practical guide, focusing on specific actions, to help you quickly build a professional project management plan without requiring complex knowledge.

Tip 1: Start writing an effective management plan

Step 1: Create an effective management plan

Determine why a management plan is needed

• Before you start writing, clarify why you need a management plan or project management plan.

• In Vietnamese businesses, many operate based on habits, lacking documented processes, which can lead to overlapping tasks.

• A clear plan helps standardize management processes, internal policies, and inter-departmental coordination.

• This is the foundation for building a sustainable operating system, especially as the business expands.

Clarify organizational structure and authority

• Clearly define each position in the organizational chart.

• Answer 3 clear questions:

  1. Who reports to whom?

  2. Who is responsible for approval?

  3. Who has the final decision-making authority?

• Clearly describing the management structure and delegation of authority within the project helps personnel understand their roles, avoiding the situation of "this can be anyone's job."

Define specific responsibilities for each position

• Each job title needs a concise job description, focusing on:

  • Main duties

  • Key Performance Indicators (KPIs)

  • Scope of authority

• In project management, clear assignment of responsibilities helps save time in troubleshooting and reduces internal disputes.

• When responsibilities are formalized, the organization can maintain stability even with personnel changes.

Increase transparency and accountability

• When roles and authorities are clearly defined, the organization can easily trace the root cause if problems arise.

• This creates accountability – a core element in corporate governance and professional project execution.

• Experience shows that businesses with clear management systems often handle crises faster and minimize the risk of errors.

Step 2: Standard management plan template

Outline the plan framework before writing details

• Before drafting the full content, create a simple outline for the entire project management plan or business management plan.

• This can be quickly written on a whiteboard, A4 paper, or a Word document for the whole team to see and provide feedback.

• The goal of this step is to help the team understand the overall structure, avoiding omissions during implementation.

Clearly describe the management structure

• Provide an overview of the organizational structure: departmental, project-based, or matrix model.

• Clearly state management levels: senior, middle, operational.

• Explain how reporting lines function in practice.

This section helps readers quickly understand how the organization operates and who is primarily responsible.

List management members and their authorities

• Specify each key management position.

• Describe:

  • Main duties

  • Scope of authority

  • Decision-making responsibility

• This is a crucial part of the project management process, helping to avoid overlaps and increase transparency.

Develop an interaction diagram between departments

• Design a chart or diagram showing:

  • Who coordinates with whom

  • Responsibilities of each level

  • Internal information flow

• In practice, many projects are delayed due to a lack of clarity in coordination processes. This diagram helps reduce conflicts and optimize work efficiency.

Explain managed activities and implementation processes

• Clearly state the areas being managed: human resources, finance, operations, marketing, production, etc.

• Each area should have:

  • Applicable policies

  • Implementation processes

  • Control standards

• This section clearly demonstrates the internal governance capability and helps the system operate consistently.

Plan for regular updates and improvements

• Clearly define the review period for the management plan: every 6 months or 1 year.

• Specify who is responsible for proposing improvements.

• Incorporate expansion or upgrade roadmap as the business grows.

Step 3: Clearly describe the management structure

Provide an overview of the management model

• At the beginning of the project management plan or business management plan, clearly describe the organizational model being applied.

• Businesses can operate under a centralized model (one key decision-maker) or decentralize authority by level.

• It should be explained in simple, easy-to-understand language, avoiding complex terminology.

Determine who is the final decision-maker

• Clarify who has final approval authority:

  • CEO

  • Board of Directors

  • Project Manager

  • Or an authorized individual

• In practice, not clearly defining the "final decision-maker" causes many projects to be delayed or debated for a long time.

• This is a core factor in effective project management.

Distinguish between internal and external decision-makers

• List the parties involved in the decision-making process:

  • Internal: leadership team, department heads, middle management

  • External: strategic advisors, investors, consultants

• If the business uses external consultants, their scope of influence and authority in the management process must be clearly stated.

Explain how authority is distributed by level

• Clearly describe how power is distributed within the hierarchy:

  • Strategic level: decides long-term direction

  • Management level: implements and supervises

  • Operational level: performs specific tasks

• If necessary, an organizational chart can be added to illustrate reporting lines and responsibilities.

Step 4: Categorize managed content

Identify all activities to be included in the plan

• List all processes and functions operating within the business or project.

• Include each activity in the project management plan to avoid omissions.

• The goal is to encompass the entire system, not just focus on one department.

Group by department or process

Depending on the organizational size, categorization can be by:

• Large enterprises: by department (HR, Finance, Marketing, Operations, etc.).

• Small businesses or startups: by business process (sales, customer service, cash flow management, etc.).

Clear grouping helps establish distinct management processes for each area.

Human Resources Management

• Recruitment and training

• Task assignment and performance evaluation

• Compensation, reward, and disciplinary policies

In fact, good human resource management is the foundation of effective corporate governance.

Financial Management

• Budgeting

• Cost control

• Cash flow tracking and financial reporting

This is a vital factor for businesses to maintain stability and sustainable growth.

Inventory and Supply Management

• Inventory quantity control

• Supplier management

• Optimizing storage costs

This section is particularly important in manufacturing and commercial businesses.

Marketing and Communication Management

• Promotional strategies

• Public relations

• Online and offline communication channels

Clearly integrating this content into the business project management plan helps synchronize sales activities and brand building.

Operations and Sales Management

• Production or service delivery process

• Quality control

• Tracking sales and business performance

By separating each management area, you can:

• Clearly define roles for each area of responsibility

• Develop specific policies and processes

• Establish specific evaluation metrics

This approach makes the project management planning method systematic, clear, and easy to control, while also creating a foundation for future scalability.

Tip 2: Describe Business Ownership and Management

Step 1: Define Business Ownership Policy

Clarify the type of ownership being applied

• In the business management plan, it is necessary to clearly state the type of company:

  • Sole proprietorship

  • Joint-stock company

  • Limited liability company

  • Non-profit organization

• Correctly identifying the model helps clarify decision-making mechanisms, legal responsibilities, and the scope of owner's authority.

Describe the specific ownership structure

• If there is only one owner, it should be clearly stated that this person holds all decision-making power and legal responsibility.

• If there are multiple contributing members or investors, it must clearly show:

  • Capital contribution ratio

  • Share ownership ratio

  • Voting rights

In practice, many internal disputes arise from not clarifying the ownership structure from the outset.

Delineate authority and legal responsibilities

• Who has the authority to make strategic decisions?

• Who is responsible if the business incurs losses or breaches financial obligations?

• Is liability limited to contributed capital or unlimited?

This is important content in corporate governance and directly affects the risk level of each owner.

Clearly state profit and share distribution

• Is profit distributed according to capital contribution ratio or a separate agreement?

• Are shares issued to external investors?

• Are there regulations for internal share transfers?

Transparently presenting these details helps increase the credibility of the management plan and demonstrates professionalism when working with partners or investors.

Step 2: Board of Directors Information

Determine if the business has a board of directors

• If it is a joint-stock company or a business with many shareholders, there will usually be a board of directors.

• If it is a sole proprietorship or a small company run by one person, this section may not be needed in the business management plan.

• Only include this content if a senior management structure actually exists.

List all board members

For each member, a brief presentation should include:

• Full name and title

• Management experience or area of expertise

• Notable achievements

• Strengths that support the business strategy

• Limitations that need to be supplemented by other members

This presentation helps demonstrate transparency and enhances the credibility of the corporate governance system before investors or partners.

Summarize leadership capabilities and strategic roles

• Which member is responsible for long-term strategic direction?

• Who has financial, legal, or market expansion experience?

• Does the board play a supervisory role or directly participate in operations?

Clarifying roles helps distinguish between governance functions and operational functions in professional business management.

Attach or cite the board's operating policies

In the management plan, it is necessary to clearly state or refer to:

• Regulations for member election

• Term of office for each position

• Specific powers and responsibilities

• Conflict of interest resolution mechanism

• Internal dispute resolution process

These details are often stipulated in the company's charter or founding agreement. Including them in the plan helps ensure consistency and mitigate governance risks.

Step 3: Introduce the Key Management Team

Identify the positions to include in the plan

In the business management plan or project management plan, it is necessary to list individuals who play a direct role in operational results, including:

• Owners or founders

• Board members (if any)

• Strategic investors

• CEOs, functional directors

• Department heads, middle managers

• Key personnel with particularly important roles

Only select individuals who genuinely participate in core decision-making or operations.

Present experience and professional qualifications

For each member, it is necessary to briefly summarize:

• Educational qualifications or professional certifications

• Work experience related to the business field

• Notable past achievements

• Successfully implemented projects

A concise presentation, focusing on actual results, will increase the credibility of the corporate governance system.

Clarify specific roles and contributions

Beyond just introducing their biography, it is necessary to explain clearly:

• Which area is this person responsible for?

• What value do they bring to the business?

• How does their experience help solve problems?

For example:

• Someone with financial experience helps control cash flow and optimize costs.

• Someone with a marketing background helps expand the market and build the brand.

This demonstrates a strategic approach in senior human resource management.

Highlight complementary strengths

An effective management team doesn't need everyone to be the same, but rather needs:

• Strategic thinkers

• Strong operators

• Market experts

• Risk controllers

Demonstrating the synergy among team members will highlight the robustness of the professional management plan and build confidence among partners or investors.

Step 4: Present the Management Team's Strengths

Analyze strengths relevant to the assigned position

In the business management plan or project management plan, each management team member should be described based on their actual abilities linked to their current role, rather than just a general list.

Focus can be placed on key competency groups such as:

• Leadership skills and team motivation

• Financial competence and cost control

• Operational experience and process optimization

• Market development and partnership building capabilities

• Strategic thinking and risk management

Strengths must be directly linked to the responsibilities they hold within the management system.

List previous experience and positions held

For each member, it is necessary to present:

• Managerial or specialized positions previously held

• Main responsibilities in those roles

• Results or achievements gained

Then clearly explain:

• How that experience supports current work

• What skills have been cultivated and are being applied

This presentation helps to increase persuasiveness and demonstrate depth in professional business management.

Clearly state educational background directly related to the position

Only include educational or certification information relevant to the current management role, for example:

• Finance major for a CFO

• Business administration for a CEO

• Marketing for a market development manager

• Project management certification for a project leader

At the same time, it is necessary to explain:

• How knowledge or skills from training are specifically applied in practice

• How that training helps improve decision-making quality

This helps reinforce the reliability of the management system according to professional and practical experience criteria.

In case the business has only one operator

If you are the founder and also the main operator:

• Present relevant work experience, professional skills, and achievements

• Clearly explain what roles you are performing: operations, finance, marketing, or management

• Clarify personal advantages that help the business develop sustainably

This section is especially important in management plans for startups or small businesses, as investors and partners often highly value the personal capabilities of the founder.

Step 5: Describe the recruitment process

Establish clear recruitment criteria

In a business management plan or project management plan, recruitment principles need to be clearly stated from the outset to ensure transparency and consistency.

• Define standards for each position: professional qualifications, years of experience, mandatory skills.

• Clarify criteria for attitude, teamwork ability, and fit with company culture.

• For management positions, add requirements for leadership skills, decision-making, and risk management.

Standardizing criteria helps reduce mis-hiring and saves on retraining costs.

Specify the recruitment process

Describe each step in the process:

1. Identify personnel needs.

2. Post job openings and collect applications.

3. Screen candidates.

4. Interview (possibly multiple rounds).

5. Assess expertise or aptitude.

6. Make hiring decision and sign contract.

A professional recruitment process demonstrates systematic human resource management capabilities and builds trust with high-quality candidates.

State the training and onboarding plan clearly

• Onboarding training for new employees (processes, culture, internal regulations).

• Regular professional training to enhance capabilities.

• Management skill development programs for potential personnel.

In reality, businesses with a clear training plan often retain talent better and improve long-term performance.

Establish reward and incentive policies

• Performance-based bonuses (KPIs, sales, profit).

• Bonuses for innovative initiatives.

• Transparent career advancement path.

A reasonable compensation policy is an important factor in effective human resource management and helps build a stable team.

Present the company's welfare benefits

May include:

• Insurance and statutory benefits.

• Allowances, holiday bonuses.

• Flexible leave policy.

• Support for training or career development.

This section helps to complete the content on human resource management in the plan and shows that the business has a long-term strategy instead of just short-term recruitment.

Step 6: List external experts and advisors

Clearly define the role of external advisors

In a business management plan, it is necessary to clearly state individuals or consulting units not on the internal payroll but who influence operational activities and decision-making.

Transparently providing this information demonstrates that the business has adequate professional preparation, especially when working with investors or partners.

Specify each group of experts to collaborate with

Depending on the field of activity, this may include:

• Lawyers: legal advice, contracts, regulatory compliance.

• Accountants or auditors: bookkeeping, financial reporting, tax optimization.

• Insurance specialists: advise on property, personnel, and corporate liability insurance.

• Strategy or marketing consultants: build brand strategy, market expansion.

• HR consultants: support in building compensation systems, performance evaluation.

Each group needs to be briefly described in terms of its scope of work and level of involvement in the management process.

Clarify the scope of authority and responsibility

• Do advisors only make recommendations or do they have decision-making authority?

• Do they work on short-term or long-term contracts?

• Does the business hire on a project basis or as ongoing advisors?

Clear definition helps avoid confusion between advisory and operational roles in the corporate governance system.

Explain the value external experts bring

• Supplement in-depth knowledge that the internal team lacks.

• Reduce legal and financial risks.

• Increase professionalism in important decisions.

In reality, many small businesses fail because they do not consult experts in time. Proactive cooperation with external advisors demonstrates professional management thinking and a long-term development orientation.

Step 7: Summarize the management team's capabilities

Affirm the foundation of experience and expertise

The management team is built on a combination of practical experience, deep expertise, and market understanding. Each member not only has individual capabilities in their respective fields but also has experience in handling situations, managing risks, and optimizing operational efficiency.

Accumulated experience over many years in the industry helps the team make quick, accurate decisions that are appropriate for the business context in Vietnam.

Demonstrate complementarity between roles

The team's strength lies not in individual members but in their ability to collaborate:

• The strategic leader focuses on long-term growth.

• The finance manager controls cash flow and ensures capital safety.

• The operations manager optimizes processes and efficiency.

• The market development manager drives revenue and expands customer base.

This structure creates a corporate governance system that balances growth and risk control.

Fit with the current business model

The management team is designed based on the exact needs of the business model being implemented. This ensures:

• Strategic decisions are closely aligned with operational reality.

• Departments collaborate effectively, reducing internal conflicts.

• Resources are allocated appropriately according to growth targets.

The synchronization between people and the operating model is a key factor in a professional business management plan.

Commitment to long-term development goals

With a foundation of experience, clear delegation structure, and transparent coordination mechanisms, the management team has sufficient capabilities to:

• Ensure stable short-term business operations.

• Increase revenue and optimize profits in the medium term.

• Expand scale and enhance competitive position in the long term.

This combination forms a solid management team, capable of driving the business's sustainable development in the coming years.

Step 8: Describe the relationship between owners, management, and employees

Clarify the roles and authority of each level

In a business management plan, three main tiers need to be clearly defined:

• Owners or shareholders: determine strategic direction and long-term goals.

• Management team: implement strategies, supervise operations, and be responsible for results.

• Employee: carries out specialized tasks as assigned.

Each level needs to be specifically described in terms of:

• Scope of decision-making authority.

• Accountability.

• Level of involvement in each operational activity.

Transparent authority helps avoid overlap and conflict in internal governance.

Establish mechanisms for coordination and shared decision-making

For the system to operate effectively, it is necessary to clearly define:

• Which decisions belong to the strategic level.

• Which decisions are delegated to middle management.

• Which matters require collective consultation.

Can apply:

• Regular meetings between owners and executive board.

• Weekly department meetings.

• Written consultation process for important decisions.

This mechanism helps maintain consensus and increase transparency in project management processes or business operations.

Build a clear internal communication system

A professional management plan needs to define:

• Official reporting channels (email, management software, periodic reports).

• Information flow from employees to management and vice versa.

• Response time and information processing time.

Clear communication helps reduce errors, increase efficiency, and improve morale.

Define dispute resolution procedures

Conflicts can arise in any organization. Therefore, it is necessary to include in the plan:

• Order of handling internal conflicts.

• Intermediate mediation level.

• Mechanism for making final decisions if no consensus is reached.

Standardizing this process helps businesses maintain stability and limit legal risks.

Ensure consistency across all levels

Before finalizing the management plan, it is advisable to discuss with each level to:

• Confirm they understand their roles.

• Agree on authority and responsibilities.

• Commit to adhering to coordination procedures.

When the relationship between owners, managers, and employees is clearly established, the business will operate smoothly, reduce conflicts, and create a solid foundation for long-term growth.

Tip 3: Draft internal policies and procedures

Step 1: Consider developing written policies

Understand the purpose of written policies

In a business management plan, written policies help to:

• Standardize work processes between departments.

• Create consistency in decision-making.

• Reduce dependence on individuals.

• Limit risks when scaling up.

For medium and large businesses, this is the foundation of professional corporate governance and ensures stable operations.

Assess scale before issuing policies

Not all organizations need a complex policy system.

• Large businesses with many departments: should establish clear regulations for effective control and coordination.

• Small businesses, startups: can operate flexibly, communicate directly instead of issuing too many rigid regulations.

In practice, applying too many procedures to a small team can slow down work processing.

Balance control and flexibility

An effective management plan is not about having as many rules as possible, but rather:

• Only issuing policies for high-risk activities or those related to finance and law.

• Maintaining flexibility in creative stages, product development, and team coordination.

• Periodically reviewing to eliminate outdated regulations.

This approach helps businesses maintain necessary control while ensuring growth speed.

Make decisions based on actual needs

Before developing a set of policies, you need to ask yourself:

• How many employees does the company have?

• Are there any errors due to lack of regulations?

• Are there plans to scale up in the next 1-3 years?

Accurately assessing needs will help optimize resources and avoid wasting time developing unnecessary regulations.

Step 2: Mobilize a team to develop processes

Gather the right people for each area of activity

In the process of finalizing a business management plan or project management plan, no single individual should develop all policies.

Choose:

• Direct managers responsible for that area

• Employees performing daily tasks

• Related departments that interact regularly

Involving the right people ensures that the content accurately reflects actual operations.

Develop policies based on actual activities

When working in a team, it is necessary to:

• List current processes

• Identify bottlenecks or ambiguities

• Standardize steps

• Record specific responsibilities for each position

This approach helps ensure that the management process is not only theoretically sound but also feasible in practice.

Seek feedback and confirm before issuing

During each work session, it is advisable to:

• Allow personnel to give frank feedback

• Review each step to ensure consistency

• Confirm agreement before finalizing the document

This reduces the risk of internal opposition and increases transparency in corporate governance.

Create a sense of ownership and responsibility

When employees are involved in developing processes:

• They understand the purpose of the policy

• They have a higher sense of compliance

• They proactively propose improvements

In practice, businesses that develop management plans based on team participation often have higher internal cohesion and implementation efficiency.

Step 3: Develop policies and operating procedures

Clearly distinguish between policies and procedures

In a business management plan, it is important to understand:

• Policies are the general principles, directions, and rules of an organization.

• Procedures are the specific steps to implement those policies in practice.

Policies answer the question "What does the business pursue?".
Procedures answer the question "How is it done?".

This separation helps make the internal governance system clear and easy to apply.

Develop policies aligned with long-term goals

Each area of activity should have its own policy, for example:

• HR policy: transparent recruitment, performance-based evaluation.

• Financial policy: cost control, tax compliance.

• Quality policy: ensuring product/service standards.

• Sustainable development policy: prioritizing environmentally friendly raw materials.

Policies must reflect the business philosophy and development direction for the next 3-5 years.

Design specific implementation procedures

After defining policies, detailed procedures need to be developed, including:

1. Steps to take.

2. Responsible person at each step.

3. Forms or documents to use.

4. How to check and evaluate results.

For example:
If the policy is to only use environmentally friendly products, the procedure might include:

• Creating a list of green-certified suppliers.

• Checking environmental certifications before signing contracts.

• Periodically assessing compliance.

This approach helps ensure that management processes are not just slogans but become concrete actions.

Ensure feasibility and ease of application

An effective management plan needs to:

• Avoid overly complex procedures.

• Use clear, easy-to-understand language.

• Be appropriate for the current scale and resources.

Overly long or difficult-to-understand procedures will reduce compliance and cause delays in operations.

Link policies with control systems

Each policy should be accompanied by:

• Key Performance Indicators (KPIs).

• Monitoring mechanism.

• Handling violations.

This ensures that the entire business management system operates uniformly, adheres to objectives, and maintains discipline within the organization.

Step 4: Ensure policies align with corporate culture

Review consistency with business philosophy

In a business management plan, all policies and procedures must accurately reflect:

• Long-term vision

• Core mission

• Internal cultural values

Before implementation, review each policy and ask yourself:
Is this policy supporting the overall goal or deviating from it?

If the company pursues flexibility and creativity, but the processes are too rigid, that's a sign that adjustments are needed.

Assess the consistency between policies

Policies should not contradict each other. For example:

• A policy that encourages initiative but has overly complex approval processes.

• A cost-saving policy that lacks a clear budget control mechanism.

In internal governance, consistency helps the system run smoothly and reduces conflicts.

Adjust unsuitable points

If content is found to be out of touch with reality or no longer appropriate:

• Modify to accurately reflect organizational culture.

• Eliminate unnecessary delays caused by procedures.

• Update according to the company's new development direction.

An effective management plan is always flexible and adaptable.

Ensure all policies align with a common goal

Upon completing the review, ensure that:

• All regulations support sustainable growth.

• Processes enhance efficiency instead of creating barriers.

• The team clearly understands the rationale behind each policy.

The synchronization between policies, culture, and strategic objectives is the foundation of sustainable business management, helping the organization develop stably in the long term.

Tip 4: Update and revise the management plan

Step 1: Review and finalize the management plan

Check for spelling and grammatical errors

In a business management plan or project management plan, spelling errors and unclear sentences can diminish professionalism.

Before finalizing, you need to:

• Read through the entire content at least twice.

• Check for spelling errors, punctuation, and wording.

• Ensure management terms are used consistently.

• Eliminate long, confusing, or redundant sentences.

A clear, concise document enhances credibility with investors, partners, and internal teams.

Ensure professional formatting

Presentation is as important as content. Pay attention to:

• Use easy-to-read, consistent fonts throughout the document.

• Appropriate margins and line spacing.

• Clear numbering of sections according to a logical structure.

• Print on clean, uncreased paper with no printing errors (if using a hard copy).

Professional formatting reflects the quality of the enterprise management system.

Check for logic and consistency

In addition to technical errors, review:

• Whether sections have conflicting content.

• Whether powers and responsibilities have been clearly defined.

• Whether policies and procedures align with overall goals.

This is an important step to ensure the entire management plan operates as a unified system.

Have others review it before publishing

If possible:

• Ask a management team member or advisor to review it.

• Recheck figures, specialized terms, and legal information.

A thoroughly reviewed plan will demonstrate professionalism, increase credibility, and create a positive impression from the first glance.

Step 2: Format the management plan clearly

Align format with entire business proposal

In a business management plan, the format needs to be consistent with the rest of the documentation, such as:

• Business plan

• Funding proposal

• Internal strategic documents

Consistency in presentation demonstrates professionalism and helps readers follow along easily.

Use a clear, scannable structure

To enhance readability:

• Bold key sections or important headings.

• Divide content into separate, logical sections.

• Avoid overly long paragraphs that are difficult to follow.

In practice, investors and partners often skim before delving into details, so a clear structure enhances communication effectiveness.

Choose standard fonts and font sizes

Some principles to apply:

• Easy-to-read fonts like Times New Roman or equivalent.

• Common font size of 12pt for main content.

• Appropriate line spacing to avoid visual clutter.

Professional formatting contributes to enhancing the image of the enterprise management system.

Flexibility between bullet points and short paragraphs

Depending on the content, you can:

• Use bullet points when listing experience, skills, and responsibilities.

• Write short paragraphs when explanation or analysis is needed.

This combination helps the project management plan be both comprehensive and accessible.

Prioritize clarity over complex formatting

No elaborate design is needed. What's important is:

• Clear content.

• Neat presentation.

• Key information stands out.

A scientifically formatted plan will support the decision-making process and demonstrate the company's systematic management capabilities.

Step 3: Have an expert consultant review the plan

Consider feedback from independent experts

After completing the draft business management plan, consider inviting an external expert to review and provide feedback. An independent perspective helps identify points that the internal team might overlook due to being too familiar with daily operations.

The more qualified people review and critique, the more refined the plan will be.

Work directly with business consultants or financial experts

You can seek out:

• Business strategy consultants

• Financial planning experts

• Business management advisors

It's advisable to send the draft in advance so they have time to study it, then organize a direct meeting for detailed discussion.

Focus on areas needing review

When working with experts, you should ask them to evaluate:

• Feasibility of the management model.

• Clarity in delegation of authority and responsibilities.

• Potential financial or legal loopholes.

• Conflicts between strategy and operational processes.

This feedback helps improve the quality of the internal governance system and reduces risks during actual implementation.

Finalize the plan before official publication

After receiving feedback:

• Adjust content that is missing or unreasonable.

• Clarify parts that are easily misunderstood.

• Update figures or assumptions if necessary.

Consulting with experts not only increases the credibility of the management plan but also demonstrates a professional management mindset, a willingness to listen and improve for sustainable development.

Step 4: Submit and agree on the plan with owners

Distribute the plan to all owners and senior management

After completing the draft business management plan, it needs to be sent to:

• All owners or key shareholders

• Senior executive board

• Members of the board of directors (if any)

Each person should have a complete copy to review thoroughly before approval.

Receive and handle feedback professionally

Owners may propose:

• Adjustments to authority and responsibilities

• Adjust the management strategy

• Add or remove certain processes

When there are differences of opinion:

• Analyze the impact of each proposal.

• Discuss directly to clarify perspectives.

• Find a compromising solution that aligns with common goals.

Transparent handling helps increase consensus in corporate governance.

Achieve consensus before official promulgation

Before using the plan for external purposes, ensure:

• All owners agree with the final content.

• No remaining conflicts of interest or responsibility.

• Key terms have been clearly agreed upon.

This consensus helps avoid disputes during actual implementation.

Sign off before submitting to financial partners

Once the content has been approved:

• Require owners to sign off on the official version.

• Store the signed version as an internal record.

• Use the approved version when submitting to investors, banks, or fundraising entities.

A fully approved management plan will enhance credibility and demonstrate professionalism when working with financial institutions.

Step 5: Commit to updating the management plan

Acknowledge that the plan needs to be adjusted according to reality

Any business management plan or project management plan is based on assumptions when first developed. When actually implemented, some aspects will inevitably be unsuitable.

Therefore, the document must clearly state the principle:

• The plan is a living document.

• It can be modified when necessary.

• Adjustments aim to improve operational efficiency, not arbitrary changes.

This mindset helps businesses be more flexible and adaptable to the market.

Establish a regular review schedule

A specific review schedule needs to be established, for example:

• Quarterly reviews for fast-growing businesses.

• Reviews every 6 months or once a year for stable models.

During each review, focus on:

• Achieving set goals.

• Effectiveness of the delegation of authority structure.

• Difficulties in applying procedures.

• New risks arising.

Regular reviews help the internal governance system stay close to reality.

Create feedback channels from all levels

An effective management plan needs a listening mechanism:

• Allowing managers and employees to submit improvement suggestions.

• Establishing official feedback channels (internal email, regular meetings, suggestion forms).

• Encouraging constructive feedback instead of personal criticism.

The participation of the entire team helps the plan accurately reflect actual operations.

Develop a change approval process

All adjustments must follow a clear process:

1. Record proposed changes.

2. Analyze the impact on finance, human resources, and operations.

3. Submit for approval to competent authorities.

4. Update official documents and notify the entire organization.

Standardizing the amendment process helps maintain discipline in sustainable business management.

Prioritize perfecting the management section

Investors often review the management section first

In fundraising, many investors will read the business management plan before marketing or finance. The reason is clear:

• They invest in people before they invest in ideas.

• They want to know who is leading and if they are capable enough.

• They assess the transparency and governance structure of the business.

A strong team can adjust financial strategy. Conversely, even if the financial plan looks good, a weak team still carries high risk.

Management and finance have equal roles

In a professional business plan, the management section is not an appendix but a main pillar, on par with:

• Financial plan

• Marketing strategy

• Market analysis

Good management helps:

• Effectively control cash flow.

• Reduce operational risks.

• Ensure financial goals are achievable.

Finance is just numbers on paper without a strong enough management system to execute it.

Focus on building a trustworthy team image

For the management section to make a good impression on investors, it needs to:

• Clearly demonstrate the team's capabilities and experience.

• Have transparent delegation of authority and control mechanisms.

• Show adaptability and the ability to update the plan as the market changes.

A well-structured management plan will increase credibility, enhance persuasiveness, and improve fundraising opportunities.

References

1. Boehm, M. (n.d.). Business Owner and Advisor. Expert Interview.
2. Community Tool Box. (n.d.). Management Plan. Retrieved from https://ctb.ku.edu/en/table-of-contents/leadership/effective-manager/management-plan/main
3. Department of Local Government, Sport and Cultural Industries. (n.d.). Management Plan Guide. Retrieved from https://www.dlgsc.wa.gov.au/department/publications/publication/management-plan-guide
4. Entrepreneur. (n.d.). First Steps: Writing the Management Section of Your Business Plan. Retrieved from https://www.entrepreneur.com/starting-a-business/first-steps-writing-the-management-section-of-your/241072
5. Indeed Career Guide. (n.d.). Basic Functions of Management. Retrieved from https://www.indeed.com/career-advice/career-development/basic-functions-of-management
6. Lumen Learning. (n.d.). The Recruitment Process. Retrieved from https://courses.lumenlearning.com/hrmanagement/chapter/4-1-the-recruitment-process/
7. Health and Safety Authority. (n.d.). Safety and Health Management Systems. Retrieved from https://www.hsa.ie/eng/topics/managing_health_and_safety/safety_and_health_management_systems/
8. The Writing Center, University of North Carolina at Chapel Hill. (n.d.). Editing and Proofreading. Retrieved from https://writingcenter.unc.edu/tips-and-tools/editing-and-proofreading/

Translation: Sidney Bailey Hoang.