Read and review the following resources: Bible (version of your choice) The following chapters from Healthcare Strategic Planning, John M. Harris, Editor: Chapter 3, Section 2–Organizing for Success Chapter 4, Section 2–Major Planning Process Considerations Pharmacy Forecast 2019: Strategic Planning Advice for Pharmacy Departments in Hospitals and Health Systems(PDF document) Write an initial response to the following key question(s) or prompt(s): (Original Post is due by Thursday; Reply to at least one classmate by Saturday; Address any questions posed to you by the end of the workshop; Ensure to use references in each post) Any strategic plan must consist of organizing sub-steps and milestones needed to accomplish the end goal. As you work through the six steps of the PBL process, how will you evaluate progress, whether re-direction is needed, and what benchmarks will be used to determine if the plan is on the right track? How will you manage risks?

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.