Steamship Authority Strategic Plan
The Steamship Authority adopted its first Strategic Plan in January 2024. This five-year plan was designed to answer three questions:
- What do we know to be true today?
- Where do we want to go?
- How do we get there?
The strategic plan framework outlines the Authority's roadmap to achieving the organization’s vision:
The Steamship Authority is the lifeline for the Islands, and a valued and respected part of our communities. We are committed to the highest levels of safety and reliability, and to the stewardship of the Cape, Islands, and our waterways.
The strategic plan framework is made up of various layers, as outlined and defined in the table below. While the strategic plan has a five-year time horizon, each nested element of the plan has varying anticipated completion dates based on level of effort, capacity, and resources needed.
|
Framework Element |
Estimated Time Horizon |
Definition |
|
Strategic Outcome Area |
3-5 Years |
The “big buckets” of things that must go well to achieve the vision |
|
Initiative |
1-3 Years |
Specific projects and programs that the organization needs to undertake in order to make progress toward the success statements outlined in each Strategic Outcome Area. |
|
Tactic |
12 to 24 Months |
Actions or methods to execute initiatives effectively. |
|
To Do |
6 to 12 Months |
Checklist items that are achieved or not achieved, serving asclear markers of progress toward the tactics and overall initiatives. |
Implementation of the strategic plan began with identifying and prioritizing initiatives within each Strategic Outcome Area. Prioritization of initiatives helps to focus limited staff capacity and resources on specific tasks and activities associated with each initiative until they are achieved or operationalized. As prioritized initiatives are completed, new initiatives from the original plan or identified in collaboration with the Board and Port Council rise to the top and become the focus of staff.
Strategic Plan Implementation Progress
The performance dashboard provides real-time updates on the Authority’s Strategic Plan implementation progress. Staff update progress at least quarterly for each prioritized initiative they are working on.
Implementation planning and execution involves layers, which allows the organization to distribute responsibility and accountability for progress across staff and breakdown the activities and timeline associated with advancing each initiative. Progress is tracked based on completion of To Do’s that feed into Tactics, Initiatives, and Strategic Outcome Areas. Each To Do can be marked as “not yet started = 0”, “in progress = 0.5” and “complete = 1.” Progress for a given Tactic, Initiative, or Strategic Outcome Area is a weighted average of the total progress of the associated To Dos. An example is provided below.
Example Calculation for Progress Percentage
Step 1: Calculation of Progress Score for Tactics:
Tactic: Replace manual processes with automated processes
|
To Dos |
Status |
Assigned Progress Score |
|
Transition to electronic accounts receivable statements |
Complete |
1.0 |
|
Implement an online payment portal |
In Progress |
0.5 |
|
Link PDF invoices to general ledger transaction posting |
In Progress |
0.5 |
|
Total Progress Score |
|
2.0 |
Step 2: Calculation of Percentage (%) Complete for Initiatives:
Initiative: Identify technology investments that create efficiencies
|
Tactic(s) |
Total Progress Score |
Total Number of To Dos |
Completion Rate |
|
Replace manual processes with automated processes |
2.0 |
3.0 |
67% |
|
Weighted Average Completion for Initiative(s) |
|
|
67% |
Step 3: Calculation of Percentage (%) Complete for Strategic Outcome Area:
Strategic Outcome Area: Ensure Financial Sustainability
|
Initiative(s) |
Total Progress Score |
Total Number of To Dos |
Completion Rate |
|
Identify technology investments that create efficiencies |
2.0 |
3.0 |
67% |
|
Establish a multi-year financial forecast |
3.0 |
5.0 |
60% |
|
Seek federal grant funding |
4.0 |
4.0 |
100% |
|
Weighted Average Completion for Strategic Outcome Area |
9.0 |
12.0 |
75% |
Implementation Progress – Performance Dashboard
Key Performance Indicators (KPIs)
In addition to advancing progress within each of the Strategic Outcome Area initiatives, the Strategic Plan framework also includes KPIs that gauge success across each of the Strategic Outcome Areas. They are in essence a pulse on how the organization is performing across each of these important factors over time. For each KPI there is a target typically influenced by baseline or past performance of the organization or industry best practices. Data is then tracked over time at varying frequencies (e.g., monthly, quarterly, annually) and compared to the target.
Each year, the Authority reassesses KPI metrics and targets with the goal of reporting on the most relevant metrics that support operational performance and decision-making.