Objectives of Strategy And Planning Management at the CFCU
CFCU acknowledges that strategic management can help public organizations as well as other entities achieve important goals and create additional value.
In this manner, management of the institutional strategy and strategic planning involves identifying the institutional vision, setting the objectives and methods to achieve that vision, and monitoring the institutional performance while continuously assessing the potential development areas or opportunities where CFCU may create public value.
Strategy and planning management is to leverage knowledge in institutional sustainability strategy, strategic resource allocation, risk and crisis management, and providing support to the human resource management of CFCU.
Strategy and planning management initiatives are propelled towards to make CFCU one of the best performing public project management authorities in the world. They are to promote institutional progress, sustainability and resilience of CFCU.
Institutional Policy Management
CFCU's Institutional Policy Framework (CFCU IPF) lays down the CFCU’s response to known and knowable situations and circumstances.
CFCU IPF is a documented set of broad course of action regarding the roles and responsibilities of the CFCU in line with the policies adopted by the Presidency and/or the Ministry, and the prominent issues affecting the CFCU’s overall performance (i.e. objectives, operations, and plans).
CFCU IPF also determines the formulation and implementation of CFCU’s strategy, and guides managerial plans, decisions and actions in achieving strategic goals.
Institutional Strategy Management
The institutional strategy is the overall scheme and approach developed and implemented for the various operations to collaborate in order to achieve the particular goals set by the CFCU’s institutional policies.
Strategic plan is a tool for aligning the basic direction and goals of the CFCU, demonstrating and formulating the objectives, position, and strategies to achieve them with performance indicators for monitoring and evaluating the achievement of the strategic goals.
Strategic plans encompasses the institutional key performance indicators (KPIs) which helps CFCU in measuring the level of success in reaching its strategic business objectives.
Institutional Performance Planning
Performance Plans define the activities for implementation of the strategic plan by specifying the ultimate responsible and relevant sub-units or staff and their immediate implementation periods such as one year.
Performance Plans encompasses unit-level KPIs which are based on the institutional level KPIs.
Institutional Risk Management
The identification and analysis of risks are important components of internal control. In the course of risk assessment, attention must be paid to possible risk factors at all management levels and measures must be taken to manage risks at regular intervals.
CFCU RMS serves to the resource optimization and the optimization of the control system. Planning of institutional activities and allocation of resources accordingly are among the most important components of institutionalization. On the other hand, optimization of the control system is also indispensable for institutional management, since it is not always possible to apply 100% control over all processes or re-performance over all transactions.
CFCU RMS is based on;
- Identifying the risks related to the objectives of the CFCU,
- Assessing the risks in order to prioritise their treatment,
- Defining risk mitigation measures,
- Implementing the risk mitigation measures,
- Ensuring a regular follow-up in order to ensure that the risk management process is continuous.
The CFCU RMS is defined in close link with the project cycle as well as the interactions with other stakeholders.
Information Security Management
As CFCU management has explicitly stated its commitment to Information Security and conformance to ISO 27001, CFCU is dedicated to obtain and maintain its ISO 27001 certificate. CFCU’s Information Security Management System is aligned with CFCU’s Internal Control process.
Business Continuity Management
In order to ensure the continuity in business processes before, during, and after a disaster, as well as to manage recovery of operations within the CFCU when and if needed; CFCU prepares and regularly updates its Business Continuity Plans (CFCU BCP).
Business Development Management
Business Development Management is of vital importance in creating and managing a portfolio of focused, coordinated and executable projects to achieve strategic objectives within the specified timeframe, especially in international collaborations concerning multiple stakeholders.
CFCU Business Development Management (CFCU BDM) aims to increase the public value creation in line with the mission and vision of the institution through:
- determining the regulatory requirements,
- preparation of inter-organizational arrangements,
- negotiating to devise solutions to meet the demands of beneficiaries or funders.
Change management supports CFCU’s organizational agility, improves its capability and facilitates organisational adaption in new circumstances.
Change requirements and implementation of reengineering designs for the business processes of CFCU are planned in the form of projects in order to achieve objectives with the desired efficiency and effectiveness.
CFCU implements an innovation management approach and methodology, which helps to change and evolve its services, processes, organization and communications with stakeholders.
The Idea Management System of CFCU (CFCU IMS) is a form of implementation of “continuous improvement management systems”, which follow the PDCA (Plan, Do, Check, Act) approach.
CFCU IMS works as a catalyst for converting ideas into improvements and novel methods of carrying out the missions of the institution, in all areas of innovation defined internationally (such as product/services, process, organization, dissemination and collaboration).