Worksheet: Put past plans beside what happened

Most plans show a dip, then a climb. Few businesses check how the last three climbs turned out. This sheet puts each year's plan beside the result and sets next year's target from that record. It builds the Competent step of the check:

Last year's plan is put beside actual results at least once a year, and the gap is discussed without blame.

Step 1. The record

Use each plan as the board approved it at the start of the year. Ignore later re-forecasts.

Year	Measure	Plan	Actual	Gap (%)	Reason given at the time	Same reason in another year?
e.g. FY24	EBIT	$32m	$27m	-16%	Wet winter cut volumes	Yes, FY22
	Revenue
	Profit
	One strategic measure
	Revenue
	Profit
	One strategic measure
	Revenue
	Profit
	One strategic measure

Step 2. Discuss the gap

Hold one meeting on this page alone. Ask what the plan assumed that turned out wrong. Record the answers.

Assumption that failed	How often	What we will assume instead

Step 3. Set next year's starting point

Measure	Average gap over three years	Where the current course leads next year	Proposed target	Initiatives that close the difference

A target above the current course is fine when named initiatives explain the difference.

Done when: last year's plan sits beside the actual result, the gap has been discussed without blame, and next year's target starts there.

Written for this check.