Preserving and Expanding CDFI Minority Depository Institutions

Creating SMART Goals - Training Exercise

This tab will be used for practicing creating SMART Goals during the training session. You will start by putting in your draft goal for each of the five areas of financial health, operations, capital
access, social impact, and strategic planning - the five key areas discussed during the two-day training. After you draft your goal, please go through each of the sub questions of defining a
SMART goal. Answering these questions will help you improve your draft goal into an actionable SMART goal that should be inserted in the final goal box. As a follow on to your strategic
planning process, a business plan with action items will be key to reaching these strategic goals.

Sample Financial Goal

DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]

Sample Operational Goal

DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
 What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]
Sample Social Impact Goal
DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]

Sample Capital Planning Goal

DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]
Sample Strategic Planning Goal
DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]
 Preserving and Expanding CDFI Minority Depository Institutions

Creating SMART Goals - Template

This tab can be used as a template for your bank's strategic planning session to set SMART Goals aligned with the specific strategic priorities you have identified.

You will start by putting in your draft goals. We have included the five areas covered during the training session (financial health, operations, capital, social impact, and strategic planning);
however, these categories should be updated based on the specific strategy and related goals of your institution. After you draft your initial goals, you can utilize the sub questions of defining a
SMART goal to help you improve your draft goal into an actionable SMART goal that should be inserted in the final goal box. As a follow on to your strategic planning process, a business plan
with action items will be key to reaching these strategic goals.

Goal One
DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]

Goal Two
DRAFT GOAL [insert draft goal]

Specific
What is the desired result? (who, what, when, why, how)
Measurable
How can you quantify (numerically or descriptively) completion?
How can you measure progress?
Achievable
What skills are needed?
What resources are necessary?
How does the environment impact goal achievement?
Does the goal require the right amount of effort?
Relevant
Is the goal in alignment with the overall mission or strategy?
Time-bound
What is the deadline?
Is the deadline realistic?
FINAL GOAL [insert final goal based on updates made for the above responses]
 Preserving and Expanding CDFI Minority Depository Institutions

Strategic Plan - Goals and Action Items Tracker

Date: 3/31/2014

% completion
of each action
Goals & Action Items Person(s) Responsible Department(s) Responsible Start Date Due Date Status item Achievements to Date Issues Issue Resolution Issue Resolution Date
[insert final goal based on updates made for the above responses] 1/31/14 6/31/2014
a. Insert Action Item Not Started 50%
b. Insert Action Item Not Started 75%
c. Insert Action Item Not Started 25%

[insert final goal based on updates made for the above responses] 1/31/14 9/31/2014
a. Insert Action Item Not Started 75%
b. Insert Action Item Not Started 75%
c. Insert Action Item Not Started 50%

[insert final goal based on updates made for the above responses] 3/31/14 10/31/14
a. Insert Action Item Not Started 75%
b. Insert Action Item Not Started 50%
c. Insert Action Item Not Started 75%

[insert final goal based on updates made for the above responses] 1/31/14 4/31/2014
a. Insert Action Item Not Started 75%
b. Insert Action Item Not Started 40%
c. Insert Action Item Not Started 75%

[insert final goal based on updates made for the above responses] 1/31/14 8/31/14
a. Insert Action Item Not Started 75%
b. Insert Action Item Not Started 75%
c. Insert Action Item Not Started 0%

Signature: Signature:
[Individual Response for Tracker] [Individual from Management]