: Perform initial research and analysis. To begin the planning process, assess the current state of your organization. Review the previous year's performance, considering a variety of data sources, including financial statements and operational reports. By conducting a thorough review of your business, you ensure your annual operational plan. An operational plan is a document that defines the tasks a business must complete in order to achieve specific milestones. Your operational plan will outline your business's current performance while implementing the management strategies your business needs to succeed. Unlike a business plan, an operational plan: