International Project Management Association (IPMA) Practice Exam

Which of the following is NOT typically included in strategic plans?

1. Mid/short-term strategies

2. Long-term visions

3. Short-term product launches

4. Corporate values

The correct answer is: Short-term product launches

Strategic plans are comprehensive frameworks that guide an organization towards achieving its long-term goals. They typically encompass long-term visions, mid to short-term strategies, and the core values that define the company's identity and culture. Long-term visions provide the overarching goals that an organization aspires to reach, while mid/short-term strategies outline the actionable steps needed to progressively work towards those long-term aspirations. Corporate values embody the principles and beliefs that shape the organization’s culture and decision-making processes. Short-term product launches, however, do not fall under the umbrella of strategic plans. While product launches can be crucial for a company's operations, they are generally tactical in nature and focus on immediate goals rather than the broader, strategic objectives of the organization. This distinction highlights the difference between a strategic perspective that guides an organization long-term and tactical initiatives that focus on executing specific plans in the shorter term.