One of the changes in the strategic planning process, because of project management is the addition of strategic capacity planning to the strategic management process. Companies want to optimally maximize the utilization of all of their resources, so instead of only doing two or three capital projects they want to do five or six, i.e. “more for less”. They are looking and allocating resources into the future to determine what resources they need, have to acquire, if they can acquire them and/or how they will acquire the needed resources, i.e. outsource, temp or hire strategic partnerships, joint venture, etc.
So the question is what are the ramification/correlation of risk management and risk tolerance in the strategic management process and strategic capacity planning. You have to think past the very obvious and trace the cause and effect/ramifications through the whole system over the spectrum or time horizon of the strategic plan, typically 3-5 years but some extend to 10-15 years depend on the industry of the company, like drug companies.
Please respond to the question in a minimum of 250 words.
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