How often should an organization update its Strategic Plan?

Current strategic planning methodology is designed to help organizations view themselves in new and creative ways, and position themselves for continued growth and development. The focus is on creating a process that helps an organization deal effectively with change – whether in the form of opportunity or threat – while staying true to its mission and vision, and without losing sight of its most important long term goals. Taking full advantage of the Strategic Plan requires an annual review and update (usually addressed during the development of the annual operating plan and budget), while a comprehensive revision may occur only every five years or so, or when special circumstances dictate.