Apac Project Portfolio Management Business Plan Template

In today's dynamic business landscape, organizations are increasingly recognizing the importance of effective project portfolio management (PPM) to drive strategic success and maintain a competitive edge. With the Asia-Pacific (APAC) region emerging as a hub for innovation and investment, the demand for skilled professionals and services in this field is on the rise. Starting a PPM business in APAC presents a unique opportunity to leverage the region's diverse markets and rapidly evolving industries. This article will guide you through the essential steps and considerations for launching a successful project portfolio management business, from understanding the local market dynamics to establishing a robust service offering that meets the needs of clients across various sectors. Whether you are an experienced project manager or an entrepreneur looking to tap into this burgeoning market, this comprehensive guide will provide you with the insights needed to embark on your journey in the world of PPM.

The global project portfolio management (PPM) market has experienced significant growth over the past few years and is projected to continue expanding, driven by the increasing complexity of projects and the need for organizations to optimize their project investments. As of 2023, the global PPM market size is estimated to be worth over USD 5 billion, with a compound annual growth rate (CAGR) of approximately 10-15% anticipated over the next several years. This growth can be attributed to several key factors, including the rising demand for effective resource management, the integration of advanced technologies such as artificial intelligence and machine learning, and the growing emphasis on aligning projects with strategic business goals. Organizations across various sectors, including IT, healthcare, manufacturing, and finance, are recognizing the importance of PPM in enhancing decision-making processes and improving overall project outcomes. Regionally, the Asia-Pacific (APAC) region is emerging as a significant player in the PPM market, fueled by rapid economic development, an increase in project-driven activities, and a shift towards digital transformation. Countries like China, India, and Japan are witnessing substantial investments in infrastructure, technology, and innovation, creating a fertile ground for PPM solutions. As businesses in the APAC region increasingly adopt project management methodologies and tools, there is a growing opportunity for new entrants and established firms to offer specialized PPM services tailored to local markets. This includes not only software solutions but also consultancy services that help organizations implement best practices in project governance and portfolio management. In conclusion, the global project portfolio management market presents a robust opportunity for entrepreneurs looking to establish a business in the APAC region. With the convergence of technology and project management, there is a significant demand for solutions that can enhance efficiency, drive strategic alignment, and ensure successful project delivery in an increasingly competitive landscape.

Identifying the target market is a crucial step for any business, particularly in the diverse and dynamic landscape of the Asia-Pacific (APAC) region. The target market for project portfolio management (PPM) businesses in APAC encompasses a variety of sectors and organizations that require effective management of projects to optimize resources, enhance decision-making, and achieve strategic objectives. Key segments within this market include:
1. Large Enterprises: Corporations with extensive project portfolios often seek PPM solutions to streamline operations, manage risks, and ensure that projects align with overall business goals. Industries such as technology, telecommunications, finance, and manufacturing are particularly notable, as they frequently manage multiple, complex projects simultaneously.

2. Government and Public Sector: Governments and public agencies across APAC are increasingly adopting PPM methodologies to improve the efficiency of public projects. These organizations require robust tools to manage budgets, timelines, and stakeholder engagement, making them a vital target for PPM businesses.
3. Small and Medium Enterprises (SMEs): While larger companies dominate the project management landscape, SMEs are emerging as a significant market for PPM solutions. These businesses often need affordable and scalable PPM tools to manage their projects effectively without the overhead of large enterprise systems.
4. Consulting Firms: Many consulting firms in APAC provide project management services to their clients. Partnering with these firms or offering tailored PPM solutions can open new channels for reaching a broader audience.
5. Educational Institutions: Universities and training organizations are increasingly incorporating project management into their curricula. They may require PPM tools for administrative projects or for providing students with hands-on experience in managing real-world projects.
6. Non-Profit Organizations: Non-profits often work on various initiatives that require careful planning and resource allocation. PPM solutions can help these organizations maximize their impact by ensuring that projects are completed efficiently and effectively.
7. Emerging Markets: As developing economies in the APAC region continue to grow, there is a rising demand for structured project management practices. Targeting industries in these markets can yield significant opportunities for PPM businesses looking to expand. Understanding the unique needs and challenges of these segments is essential for tailoring PPM offerings effectively. Businesses should consider factors such as industry-specific requirements, organizational size, and regional dynamics when defining their target market. By doing so, they can create targeted marketing strategies and develop solutions that resonate with potential clients across the diverse APAC landscape.

When considering the launch of a project portfolio management (PPM) business in the Asia-Pacific (APAC) region, it is essential to understand the various business models that can be employed. The choice of model can significantly impact your operational strategy, revenue generation, and customer engagement. One prevalent approach is the subscription-based model, where clients pay a recurring fee for access to your PPM software or services. This can be structured in tiers, offering different levels of service or features based on the price point. This model aligns well with the increasing demand for SaaS (Software as a Service) solutions, allowing businesses to scale their usage as needed while ensuring a steady revenue stream for your company. Another viable model is the consulting-based model, where you offer expert guidance and tailored solutions to organizations looking to enhance their project portfolio management practices. This could involve conducting assessments, developing custom strategies, and providing ongoing support. This model leverages the growing need for specialized knowledge in the APAC market, where many companies are still maturing in their project management capabilities. A hybrid model combines elements of both subscription and consulting services. This might involve providing a software platform on a subscription basis while also offering consulting services to help clients maximize their use of the software. This approach can increase customer retention and satisfaction, as clients benefit from both the tools and the expertise you provide. Additionally, consider a training and certification model. With the increasing complexity of project management, organizations are seeking to upskill their teams. By offering training programs and certification for project managers, you can build a reputation as a thought leader in the field while generating additional revenue. This model not only adds value to your clients but also fosters a community around your brand. Finally, performance-based models can be particularly compelling, especially in environments where companies are focused on outcomes. In this structure, your fees could be tied to the success metrics of the projects you manage for your clients. While this model carries more risk, it can also lead to higher rewards if you can demonstrate your impact on their success. In summary, the choice of business model for a PPM venture in the APAC region should align with market needs, your unique value proposition, and your operational capabilities. By thoughtfully selecting and potentially combining these models, you can position your business for growth in a dynamic and evolving market.

The competitive landscape for a project portfolio management (PPM) business in the Asia-Pacific (APAC) region is dynamic and multifaceted, shaped by various factors including regional economic growth, technological advancements, and increasing demand for efficient project management solutions. As businesses across sectors seek to enhance their operational efficiencies and strategic alignment, the PPM market has witnessed a surge in both established players and emerging startups. Established firms, often with a significant global presence, dominate the landscape. Companies like Microsoft, with its Project software, and Oracle, with its Primavera P6, offer comprehensive solutions that cater to large enterprises. These organizations benefit from extensive resources, brand recognition, and a robust customer base. Their offerings typically include advanced features such as resource management, risk analysis, and integration with other enterprise software, which appeal to larger corporations looking for end-to-end solutions. In contrast, the rise of cloud computing has paved the way for numerous smaller, agile startups that deliver niche PPM solutions tailored to specific industries or project types. These companies often leverage innovative technologies such as AI and machine learning to provide predictive analytics and real-time reporting, enhancing decision-making capabilities for project managers. Startups like Monday.com and Asana have gained traction by focusing on user-friendly interfaces and collaboration tools, catering to teams that prioritize ease of use and accessibility over extensive functionalities. Regional players also play a crucial role in the APAC PPM landscape. Companies such as Projex, based in Australia, and various local firms in Southeast Asia and India, offer services and solutions that are more attuned to local market needs and cultural nuances. These businesses often emphasize personalized service and support, enabling them to build strong relationships with their clients. The competitive environment is further influenced by the increasing emphasis on digital transformation across various industries. Organizations are prioritizing investments in PPM solutions that offer seamless integration with existing systems, mobile accessibility, and customizable features to suit their specific operational needs. This trend has led to fierce competition among providers to differentiate their offerings through innovative technology and superior customer service. Moreover, as the APAC region experiences rapid economic development, particularly in emerging markets, the demand for effective project management solutions is expected to grow. This creates opportunities for both established companies and new entrants to capture market share. However, to succeed in this competitive landscape, businesses must stay attuned to evolving market trends, understand the regulatory environment, and maintain a strong focus on customer needs and satisfaction. In summary, the APAC project portfolio management market is characterized by a mix of established global players, innovative startups, and responsive regional firms. Each segment of the market is vying for dominance, driven by technological advancements and the increasing necessity for agile project management practices. New entrants must navigate this complex landscape by leveraging unique value propositions and focusing on delivering tailored solutions to meet the specific demands of the diverse APAC market.

When embarking on a project portfolio management (PPM) business in the Asia-Pacific (APAC) region, understanding the legal and regulatory landscape is crucial for compliance and operational success. Different countries within APAC have unique legal frameworks, but several common areas of focus should be considered. Business Registration and Licensing: It is essential to register your business in the country where you intend to operate. This process typically involves selecting a business structure (such as sole proprietorship, partnership, or corporation) and obtaining the necessary licenses. Specific licenses may be required for consulting services, and these can vary significantly from one jurisdiction to another. Taxation: Understanding the tax obligations is critical. Each APAC country has its own tax regulations, including corporate income tax, goods and services tax (GST), and value-added tax (VAT). It is advisable to consult with a local tax professional to ensure compliance with local tax laws and to take advantage of any incentives available for new businesses. Employment Laws: If your PPM business plans to hire staff, you must comply with local labor laws, which govern employee rights, wages, working hours, and termination procedures. Additionally, it is important to consider regulations regarding contracts, benefits, and workplace safety. Data Protection and Privacy Laws: With the increasing reliance on technology and data in project portfolio management, compliance with data protection regulations is essential. Many APAC countries have enacted laws that govern how businesses collect, store, and use personal information. Familiarize yourself with regulations such as the General Data Protection Regulation (GDPR) in jurisdictions that enforce it, as well as local laws like the Personal Data Protection Act (PDPA) in Singapore or the Privacy Act in Australia. Intellectual Property (IP) Protection: Protecting your intellectual property is vital in the competitive field of project portfolio management. Consider registering trademarks, copyrights, or patents as appropriate in your target markets. Understanding the IP laws in the respective countries can help safeguard your business assets and innovations. Industry Standards and Compliance: Familiarize yourself with industry-specific standards and certifications that may be required or beneficial for a PPM business. This could include adherence to project management methodologies (such as PMBOK or PRINCE2) or obtaining certifications like ISO standards that enhance credibility and trustworthiness. Cross-Border Considerations: If your PPM business will operate in multiple APAC countries, be aware of the regulations governing cross-border operations. This includes understanding trade agreements, import/export restrictions, and any applicable tariffs that may affect your business model. In summary, navigating the legal and regulatory requirements is a foundational step in establishing a successful project portfolio management business in the APAC region. Engaging with legal and business professionals who have expertise in local laws will help ensure compliance and facilitate a smoother launch and operation of your business.

When embarking on the journey to establish a project portfolio management business in the Asia-Pacific (APAC) region, choosing the right financing options is crucial for ensuring sustainable growth and operational success. Entrepreneurs must explore a variety of funding avenues to secure the necessary capital for startup costs, technology investments, and ongoing operational expenses. Here are some financing options to consider:
1. Bootstrapping: Many entrepreneurs choose to self-fund their businesses initially. Bootstrapping allows you to maintain complete control over your company and its direction. By using personal savings or reinvesting profits, you can minimize debt and retain equity. This approach is particularly effective if you have a clear vision of your business model and can achieve early profitability.

2. Bank Loans: Traditional bank loans can provide substantial funding for your project portfolio management business. Banks typically offer various loan products, including term loans, lines of credit, and small business loans. A solid business plan, financial projections, and a good credit score are essential to securing favorable loan terms. It's important to research different banks and their offerings, as terms can vary significantly.
3. Venture Capital: If your business has high growth potential, you might consider seeking venture capital (VC) funding. VC firms invest in startups in exchange for equity, and they often bring valuable industry expertise and connections. However, this option may require you to give up a portion of ownership and can involve rigorous due diligence processes. It's crucial to find a VC that aligns with your business goals and values.
4. Angel Investors: Angel investors are individuals who provide capital in exchange for equity or convertible debt. They often invest in early-stage companies and can offer mentorship and networking opportunities. Building relationships with angel investors can be beneficial, as they typically look for innovative business ideas with strong growth potential.
5. Crowdfunding: Platforms like Kickstarter, Indiegogo, and GoFundMe allow entrepreneurs to raise funds from a large number of people, often in exchange for early access to products or equity stakes. Crowdfunding can also serve as a marketing tool to validate your business idea and build a community around your brand. However, it requires a compelling pitch and effective marketing strategies to attract backers.
6. Government Grants and Programs: Many APAC countries offer grants, subsidies, or low-interest loans to support small and medium-sized enterprises (SMEs) and innovative startups. Researching government programs and incentives specific to your region can provide non-dilutive funding options that can significantly reduce your financial burden.
7. Partnerships and Joint Ventures: Forming strategic partnerships with established companies in the project management field can also provide access to resources and funding. Joint ventures can offer financial backing and shared expertise, reducing the risk associated with starting a new business. This approach is particularly beneficial if you can leverage the partner’s existing customer base and market knowledge.
8. Accelerators and Incubators: Participating in an accelerator or incubator program can provide not only funding but also mentorship, resources, and a network of like-minded entrepreneurs. These programs often culminate in a demo day, where startups present their business to potential investors, increasing visibility and funding opportunities. By carefully evaluating these financing options and selecting the ones that best align with your business model, goals, and market conditions, you can set a strong foundation for your project portfolio management business in the APAC region. Each option has its advantages and challenges, so it's essential to consider your long-term vision and operational needs when making decisions.

When launching a project portfolio management (PPM) business in the Asia-Pacific (APAC) region, developing effective marketing and sales strategies is crucial to attract clients and establish a strong market presence. Here are several strategies tailored for success in this diverse and dynamic region.
1. Understand the Local Market: Before implementing any marketing strategies, conduct thorough market research to understand the unique needs and preferences of businesses in different APAC countries. Each nation has distinct cultural, economic, and regulatory environments that influence how companies approach project management. Tailoring your offerings to meet local demands can enhance your appeal.

2. Positioning and Branding: Develop a strong brand identity that resonates with your target audience in the APAC region. Position your PPM services as essential for businesses seeking efficiency and competitive advantage. Highlight your expertise in local project management practices and regulations, and emphasize your understanding of regional challenges.
3. Digital Marketing: Leverage digital marketing channels to reach potential clients. Use search engine optimization (SEO) to improve your website’s visibility on search engines. Create valuable content, such as blogs, whitepapers, and case studies, that addresses common project management pain points in the region. Utilize social media platforms popular in APAC, like WeChat in China or Line in Japan, to engage with your audience and promote your services.
4. Networking and Partnerships: Establish connections with local businesses, industry associations, and governmental organizations. Attend industry conferences, workshops, and networking events to build relationships and showcase your expertise. Consider forming strategic partnerships with firms that complement your services, such as software providers or consulting agencies, to expand your reach and credibility.
5. Tailored Solutions: Offer customized project portfolio management solutions that cater to the specific industries prevalent in the APAC region, such as technology, manufacturing, and finance. Demonstrating an understanding of industry-specific challenges and delivering tailored solutions can set your business apart from competitors.
6. Customer Education: Educate potential clients about the benefits of effective project portfolio management. Host webinars, workshops, and seminars to share insights on best practices, tools, and methodologies. Providing educational resources can position your business as a thought leader in the PPM space and help build trust with potential clients.
7. Localized Sales Approach: Adopt a localized sales strategy by employing a sales team familiar with the cultural nuances and business practices of each APAC market. This approach can improve communication and relationship-building with potential clients. Additionally, offering multilingual support can enhance your accessibility and appeal.
8. Customer Testimonials and Case Studies: Leverage success stories from previous clients to build credibility and demonstrate the effectiveness of your services. Highlight case studies that showcase measurable improvements in project efficiency, cost savings, and overall project success. Testimonials from satisfied clients can significantly influence potential customers' decision-making processes.
9. Lead Generation and Nurturing: Implement lead generation strategies using targeted advertising, email marketing campaigns, and content marketing to attract potential clients. Focus on nurturing leads through personalized communication and follow-ups, ensuring that you address their specific needs and concerns.
10. Measure and Adapt: Regularly assess the effectiveness of your marketing and sales strategies through analytics and feedback. Be willing to adapt your approach based on market trends, client preferences, and technological advancements to ensure sustained growth and relevance in the APAC market. By employing these strategies, a project portfolio management business can effectively penetrate the APAC market, build a solid client base, and achieve long-term success in a competitive landscape.

To establish a successful project portfolio management (PPM) business in the Asia-Pacific (APAC) region, effective operations and logistics are crucial. This involves creating a robust framework that ensures seamless service delivery, optimal resource allocation, and strong client relationships. Here are the key components to consider:
1. Infrastructure Development: Invest in a reliable technological infrastructure. This includes project management software, collaboration tools, and data analytics platforms that facilitate efficient project tracking, reporting, and communication. Ensure that the software is scalable and customizable to meet the diverse needs of clients across various industries.

2. Talent Acquisition and Training: Recruit a skilled team with expertise in project management methodologies such as Agile, Scrum, and Waterfall. Continuous training and development are essential to keep the team updated on the latest trends and best practices in PPM. Consider partnerships with training organizations to provide certifications and workshops that enhance your team's capabilities.
3. Client Engagement Strategy: Develop a clear client engagement strategy that outlines how you will attract, retain, and grow your client base. This includes identifying target markets within the APAC region, understanding their unique needs, and tailoring your offerings accordingly. Regular communication, feedback loops, and transparent reporting can help build trust and foster long-term relationships.
4. Resource Management: Implement effective resource management processes to ensure that the right people are assigned to the right projects based on their skills and availability. Use forecasting tools to predict resource needs and avoid overallocation or underutilization. This optimization is key to maximizing efficiency and minimizing costs.
5. Compliance and Risk Management: Understand the regulatory environment in the APAC region and ensure that your operations comply with local laws and industry standards. Develop a risk management framework to identify, assess, and mitigate potential risks associated with project execution, including financial, operational, and reputational risks.
6. Performance Measurement: Establish key performance indicators (KPIs) to measure the effectiveness of your operations. Metrics such as project delivery timelines, budget adherence, client satisfaction, and employee performance can provide insights into the health of your business. Regularly review and adjust your strategies based on performance data to drive continuous improvement.
7. Supply Chain Coordination: If your PPM services involve physical deliverables or collaborations with third-party vendors, ensure a well-coordinated supply chain. This includes establishing relationships with reliable suppliers, setting clear expectations, and creating contingency plans to address potential disruptions in the supply chain.
8. Cultural Sensitivity: Given the diverse nature of the APAC region, it is essential to cultivate cultural sensitivity within your organization. Understanding local customs, business practices, and communication styles can enhance client interactions and improve project outcomes. Building a culturally diverse team can also provide valuable insights into regional market dynamics. By focusing on these operational and logistical aspects, you can build a strong foundation for your PPM business in the APAC region, positioning it for sustainable growth and success.

When embarking on a project portfolio management (PPM) business in the Asia-Pacific (APAC) region, establishing a robust human resources and management framework is crucial for success. An effective team not only drives project success but also cultivates a culture of collaboration and innovation that can differentiate your business in a competitive landscape. First and foremost, it’s important to define the roles and responsibilities within your organization. A well-structured team typically includes project managers, portfolio managers, business analysts, and support staff. Each position should have clearly outlined responsibilities, which will streamline operations and ensure accountability. In addition to traditional roles, consider the inclusion of specialized positions such as data analysts and risk management experts. These roles can provide unique insights and enhance decision-making processes, which are essential in managing diverse project portfolios. Recruitment strategies should focus on attracting talent with both local expertise and international experience. Given the cultural diversity of the APAC region, understanding local business practices, languages, and customs can be a significant asset. Utilize a mix of recruitment channels, including local job boards, professional networks, and partnerships with universities, to source a diverse talent pool. Moreover, prioritize candidates with strong adaptive skills and a collaborative mindset, as these traits are vital in managing cross-functional teams across various countries. Training and development are equally important. Investing in continuous professional development not only enhances the skills of your team but also fosters employee loyalty and satisfaction. Consider implementing a structured onboarding program that introduces new hires to your company culture, tools, and methodologies. Additionally, ongoing training in project management methodologies (such as Agile, Scrum, or PRINCE2), as well as workshops on soft skills like communication and negotiation, can significantly improve project outcomes. Creating an inclusive and engaging work environment is essential for maximizing team performance. Encourage open communication and collaboration across all levels of the organization. Regular team-building activities and feedback sessions can help build trust and rapport among team members. Furthermore, leveraging technology for project management and communication can enhance efficiency and keep everyone aligned, especially in a region where teams may be geographically dispersed. Lastly, effective leadership is critical in guiding your PPM business toward its goals. Leaders should embody the vision and values of the organization, inspiring their teams and setting a positive example. Establishing clear performance metrics and recognition programs can motivate employees and drive high performance. Leaders should also be adaptable, ready to respond to the dynamic business environment of the APAC region, and capable of navigating challenges such as regulatory compliance and market fluctuations. In summary, focusing on strategic human resources management is fundamental in establishing a successful project portfolio management business in the APAC region. By building a skilled, diverse team, investing in their development, fostering a collaborative culture, and demonstrating strong leadership, you can lay a solid foundation for growth and innovation in this promising market.

In conclusion, embarking on a project portfolio management business in the APAC region presents an exciting opportunity for entrepreneurs and established firms alike. By understanding the unique dynamics of the local markets, embracing technological advancements, and fostering strong stakeholder relationships, you can position your business for success. It is essential to prioritize effective communication, employ robust methodologies, and remain adaptable to the ever-changing economic landscape. As you build your portfolio, focus on delivering value and aligning projects with strategic goals to ensure sustainability and growth. With careful planning and execution, you can establish a thriving venture that meets the diverse needs of organizations across the Asia-Pacific region.

A business plan is a critical tool for businesses and startups for a number of reasons
Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the mark
et.Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

To complete your perfect apac project portfolio management business plan, fill out the form below and download our apac project portfolio management business plan template. The template is a word document that can be edited to include information about your apac project portfolio management business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.