Strategy monitoring and evaluation at national oil

Abstract

In today's highly competitive business environment, budget oriented planning and forecast-based planning methods are insufficient for a large organization to survive and prosper. The firm must engage in strategic planning that clearly defines objectives and assess both the internal and external situation to formulate strategy, implement it, evaluate the progress, and make necessary adjustment necessary to stay in track. Effective strategy and monitoring enables managers and other stakeholders with regular feedback on project implementation and early indication of progress and problems in the achievement of planned results in order to facilitate timely adjustments of strategies in the operation of projects. The objective of the study was to determine strategy monitoring and evaluation at National Oil Corporation of Kenya. The research design was a case study of National Oil Corporation of Kenya. The study used primary data which was collected using an interview guide. Content analysis technique was used to analyze the data. The findings of the study was that strategy monitoring and evaluation is done quarterly through review of the implementation status of the developmental business plans and these helps the corporation in tracking corporate performance against strategic achievement, establish alignment of individual tasks and departmental initiative with the overall objectives of the company and supports the corporate performance management agenda of the corporation. Monitoring and evaluation has helped the corporation to track down performance against objectives/ targets which ensure accountability by establishing clear bench mark by which to measure performance while also allowing for early signals to detect when performance deviates. It has also enabled the corporation to increase productivity through overhead costs management. The corporation uses of the corporation. The resources necessary to support effective monitoring and evaluation was not sufficient as the strategic planning office is not adequately equipped in terms of staff,financial and technical resources to undertake comprehensive monitoring and evaluation across the organization