ITV (Place commonly used: Property) - âInsurance-to-valueâ Insurance written in an amount approximating the current-day replacement cost of the building or structure with like kind and quality of materials.
The basic steps in the management planning process involve creating a road map that outlines each task the company must accomplish to meet its overall objectives. Establish Goals The first step of the management planning process is to identify specific company goals. This portion of the planning process should include a detailed overview of each goal, including the reason for its selection and the anticipated outcomes of goal-related projects.
What is planning and why you need to plan. Planning is one of the most important project management and time management techniques. Planning is preparing a sequence of action steps to achieve some specific goal. If you do it effectively, you can reduce much the necessary time and effort of achieving the goal. A plan is like a map. When following a plan, you can always see how much you have progressed towards your project goal and how far you are from your destination. Knowing where you are is essential for making good decisions on where to go or what to do next. One more reason why you need planning is again the 80/20 Rule.