Asked Question Overview for  : Personal Development Strategic Plan

This Individual Personal Development Strategic Plan provides a framework detailing my future career and life decisions. The report details various aspects of my professional life and projects goals for the next five, ten and twenty year periods.The report will discuss the following: mega trends and influences, career goals and lifestyle, life scenarios, strategies for career and life, personal self-assessment, step-by-step plan.

Answer the Question Frames is:-

To start with, this particular Individual Personal Development Strategic Plan puts forward a structure that provides an insight into my personal goals and career, both long-term as well as short-term over a period of twenty years.  This report throws light on several facets of my professional life along with project objectives for the above-mentioned time period i.e. 20 years. Further, the report would highlight influences and megatrends; career objectives and lifestyle; strategies for life and career; life scenarios; individual self-assessment and lastly, step-by-step plan.

 Megatrends & Influences

First of all, megatrends within society and my career would have a major impact on my life.  Despite the fact, my individual aspirations and beliefs would significantly direct and shape my life and profession accomplishments, a key fraction of my life would be influenced through megatrends.  Advancements within community and the rejuvenation of engineering trade would undoubtedly make my goals and ambitions more attainable and facilitate in their faster accomplishment.

My personal and professional life are expected to be influenced by the below mentioned megatrends:

1. Social networks for personal usage or as professional devices.  Social networks make possible interaction with outside groups of like Engineers who share information, trade ideas and develop personal links with some other expert professionals.  The capability to bond with other engineering experts would certainly improve my knowledge and understanding, for the reason that I could easily connect with a forum and request for suggestions.
2. Superior information technology within the workplaces.  Satellite, WIFI and WANS together with LANs wireless technology would provide exceptional resources for the engineering career, since they put forward the ability to electronically share and send information like updates and blueprints to the construction sites in actual time. Project supervisors can too solve problems remotely.
3. Smart and Quality equipment. These megatrends would allow concentration on the technical facets of the projects at the same time enhancing them and incorporate fabrication, production and mechanization. The new technique and tools would make possible product testing at each phase of the manufacturing and designing stage that further aid in making sure superior quality standards, lesser part counts, higher consistency and more user-friendly products.
4. Electronic resources.  Blackberries and Ipods could be used so as to make information transferable.  It’s essential to be capable of connecting with business associates, partners, organization and coworkers promptly.

With all the megatrends explained above, I would be able to perk up the quality while cutting down the expense of my work and designs.  By way of developing customized patterns and products which satisfy demand-supply qualifications, I would be capable of expanding into the worldwide marketplace and team up with numerous organizations, partners and consultants.  These techniques will make possible for me to devise innovative creations quickly and progress financially.

Set Goals

I have categorized my aspirations and goals into two groups namely; short-term and term-term. First of all, the long-term objectives are ones which I imagine as key achievement(s). Secondly, the short-term objectives make up the steps that would help me in attaining my long-term objectives. Eventually, I attempt to become an academic instructor. On the way to attaining this objective, I would put efforts towards setting-up my own business providing world-renowned labels and becoming a professional within the sphere of consultation of management and projects.  Additional and careful analysis would be given to laying down my lifestyle objectives in order to build a life-work balance, providing my friends, family and myself time for enjoying life’s riches.

In context to the short-term objectives essential to attain my lifespan goal; I have split them with respect to the distinct levels of my life.  The foremost is to attain a powerful knowledge base and marketplace familiarity.  This would be achieved by pursuing higher education within the field of engineering and having a master’s and PhD degree and further training all through my professional life.

My second short-term objective is to attain practical abilities.  The attainment of practical abilities would be on continuous since they would be persistently developed all through life.

Finally, the improvement of interpersonal interactions and negotiation abilities are two elements I would try to improve and use as tools all through my lifetime.  In addition, other abilities I want to develop are exceptional managerial abilities that would complement my career knowledge.  Managerial abilities would prove to be useful at the time when I start my individual business and recruit employees.

My most vital and chief personal life objective is having a good family life.  This objective would be made attainable once I think I have adequately advanced in my professional life, since I would want to provide sufficient resources to my family. As a result, this goal would be put into practice after I have properly settled into my profession.

A short-term objective before starting a family takes in traveling and participating in individual interests.  I hold the view that traveling as well as being immersed within distinct cultures would aid me in gaining interpersonal abilities and contribute in my overall individual and career growth.  By way of traveling, I would get the advantage of evaluating foreign marketplaces and would be capable of identifying the demands and needs of every nation.  This would consequently lead me to designing and developing appropriate products.

Life Scenarios

Scenario I.  Career development as academic instructor.

I aim to attain a Master’s degree in chemical engineering from the well-known university namely; New South Wales University and gain specialization in project management. During my education, I intend to finish courses including risk management, strategic management, design of construction operation and human resources management.  I would after that, enroll with an Australian university to start working toward a doctorate degree within Project Management.

Subsequent to finishing my higher education, I would apply for a post of academic lecturer at a leading Australian university. I would too improve my familiarity by way of writing essays and research articles in the sphere of project management and evolution.  Further, I would also want to earn a good salary between 120,000 – 130,000 dollars on annual basis. Such a good salary and position would make possible for me to attain my life objectives and satisfy my professional expectations.

Scenario II.  Technical tasks and practical training in order to make my own business.

Like Scenario I, I wish to attain Master’s degree in chemical engineering from the university of New South Wales, specialize in the production management and engineering along with undertaking courses like supply chain, industrial management and life cycle assessment.  I would not just like to attain theoretical familiarity and knowledge from university, but also be capable of immediately applying that knowledge at a real level within the operating environment.

After completing my graduation, I would apply for positions present in the international marketplace.  In specific, I would forward my resume to organizations like Fugro NV, SNC Lavalin, Netherlands and lastly, Canada. I wish to become profitably engaged with one of the companies listed on my preference list.

In order to attain and enhance my knowledge base, subsequent to the period of ranging between three to five years, I would wish to join some other company. By doing I would gain exposure of how several types of companies are structured and operate.  I also wish that obtaining work with an international company would offer me the prospects to accomplish my objective of obtaining intercultural familiarities.

By the year 2025, I would wish to set up my individual engineering company, specializing in project management and consultation. The company would take up independent orders and work with other alike corporations operating within Australia and overseas in the production of commodities.

 Attain the highest and maximum level of education and also, further enhance the knowledge and familiarity attained through training, examination and experiences.

• Devise interpersonal and communication abilities in order to grow my network of acquaintances and contacts, and also concentrate on gaining managerial abilities.
• Build Internet Technology abilities and constantly enhance them to become one among the unsurpassed experts in design and modeling engineering.
• Porter Five Forces Framework

 The Porter Five Forces framework is the model adopted for the assessment of development and business approaches. The five forces are Bargaining Power of Suppliers, Threat of New Entrants, Bargaining Power of Customers, Threat of Substitute Products and lastly, the Competitive Rivalry in an industry.

The major threat to the growth of my profession would be the Threat of New Entrants.  This danger would particularly affect me in case if I would decide to go along Scenario I, whereby, I would pursue a profession as an academic instructor.  To trim down this threat, I would operate to strengthen the learning and research approach and persistently enhancing my knowledge and capability to catch the attention of audiences.  Furthermore, focus would also be laid on investigating and article publication.

Moving ahead, the other threat would be of Substitute goods. This particular threat would be experienced in case if I decide to follow Scenario II and engage in practical and technical tasks so as to make sure the progress of my individual business. Since, I intend to design and produce goods, the actuality that other organization could manufacture substitutes could cause a substantial threat to my project.  In such situation, customers and suppliers bargaining power would play a key role.  My approach for dealing with such threats would be to distribute resources in my organization or outsource to carry out marketplace investigation.  I would also lay higher focus on interpersonal and networking skills that would make possible for me to interact with other chief individuals operating in the industry.

Personal Self-Assessment

An evaluation of my skills, with respect to the Engineers Australia Executive Baseline, has concluded that presently I satisfy the required standards by around 60-70%.  By studying the assessment results, it’s discovered that I hold powerful leadership skills and need to work on my skill to form strategic judgments.  Moreover, as for management abilities, I am well capable at personal management. Nevertheless, I hold no expertise or practice within areas like human resource management and customer services.   The business element of the self-assessment highlighted that I have less practice within the sphere of finance, administration and accounting. However, I am effective at developing business associations and would be capable of developing entrepreneurial links with the suppliers and customers very quickly.

As per the Competency Standard Handbook for Advanced Level Engineers presented by the Philippine Technological Council as well as devised under close administration by the Australian Institution of Engineers, I hold several strengths and weaknesses:

• Capability to have a say in the fabrication of engineering practice.
• Capability to understand the complete scope of project and lay down a time-period for its completion.
• Capability to recognize risks and safety of a project. Highly efficient with respect to time management and keeping a well-maintained documentation record of the venture.
• Need to enhance skills to evaluate the design upshot all through the operational element of the venture.
• Capability to take part in research and development (R&D) within the area of engineering, to put forward new and better projects and examine new resources.
• Capability to handle teams at the time of group work.

Planned Goals for  5 years –

In the time span of five years, I plan to be capable of achieving a doctoral degree within the sphere of project management and acquire abilities needed as per the standards of engineering standards. Further, the Gant chart below throw light on my objectives for the subsequent five years.

Planned Goals for  10 years –

Within the period of ten years, I plan to contribute to the industry and the world as an instructor within Australia. I too wish to be regarded as a renowned researcher within the sphere of project management. Further, the below Gant chart highlights my objectives for the subsequent ten years.

Planned Goals for  20 years –

Within the period of twenty years, my objective is to become a proficient business engineer with high emphasis on supervising and assessing engineering ventures. I wish that I could grow my business, in the range of facilities offered and marketplaces served and turn out to be a leader in the sector by around 2030. Further, the below Gant chart mirrors my objectives for the subsequent 20 years.

Present Performance

At present, I hold a good knowledge base, however hold very less practical knowledge and experience about the engineering segment.

Functionality:  Being a leader by nature, I hold particular basic leadership skills that I need to work upon so as to grow further.  With respect to communications and behavior, I need to concentrate on skills like communication, networking, entrepreneurship and business relations.

Condition:  My physical health and fitness conditions are perfectly fine.

Compliance:  I need to attain and complete engineering education as well as attain my Master’s degree.  I would then start operating towards gaining a doctorate within the sphere of project management.  In the meantime, I would also be capable of contracting some exceptional ventures from professional organizations and make use of the information I would gather in my research studies.  Further, this would undoubtedly result in enhancing my professionalism and experience.

Summary of Strategic Plan

          In the period of next ten years, minimum five years would be devoted to finishing my plan of Master degree.  It’s estimated that my complete education and living costs would be about 41,000 dollars annually. If I decide to attain a PhD degree, it would require another four years and might cost around 200,000 dollars. Since I am taking into consideration the opportunity of internships, I would need to be capable to supporting myself and would require an extra 6,000 dollars to cover expenditure for an internship lasting for 6 months.  Extra costs would also take in any trainings or certifications required to outshine in my career.  Even though, the overall amount of these investments might reach 300,000 Australian Dollars, this is the basis for my approach to attain what I actually want with respect to my life and career. Further, the graph below defines the maximum amount of educational cost which might be required with regard to my strategy:

 Statement of Next Steps

The plan developed above would only be realized effectively by properly following the defined strategy.  Moreover, funding would be my foremost project and once it is solved I would finish the foremost phase of my education.  On finishing my Masters, I would enroll for PhD in project management sphere. I would also make a CV so as to forward it to the several organizations I want to work with and intend to attain an internship with.  As soon as this objective is attained, I would progress to attain the objectives outlined within the period of 5, 10 and 20 years of my professional life.

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