There is nothing like a perfect plan that lays out the objectives you hope to achieve, the timelines required for success, and a roadmap that lays out the end state.  But we all know our plans change.  In fact, in my line of work we are fond of saying that “no plan survives first contact”.  However, as Winston Churchill stated, “plans are of little importance, but planning is essential”.  So what makes the difference between just having a plan, and truly planning?  Margin.  In order to truly plan well, we conduct our planning in the margins.

“In order to plan well, we plan in the margins” 

What does planning in the margins mean?  Planning in the margins means we account for loss, attrition, bad weather, tired kids, or a flat tire.  For example, having just come back from vacation, we planned to arrive back in town two days before I was required to be at work.  This margin allowed us time to flex for bad weather, car trouble, and the ability to get unpacked before the week began.  In the end, we didn’t need the margin, but the extra two days at home were a welcome two days of rest and gearing up for the work week to come.

“Planning in the margins means we account for loss, attrition, bad weather, tired kids, or a flat tire.” 

Here are some rules of thumb I use for planning in the margins:

• For drives under one hour, add 30% to the driving time.  For example, 30% added to a 30 minute drive equates to an addition of 9 minutes, round that up to ten and you have now given yourself 10 minutes of fluff to account for getting kids in the car, bad traffic, a forgotten item, etc.
• For out of town vacations one week or longer, add one day on each end.  I call this the bookend rule.  When I am going on a vacation for a week or longer, I have found it is wise to add a day at the front end as well as at the end.  This allows us the time we need to tie up loose ends as well as recover when we get back.  It also has the added benefit of providing an extra day at the end to account for travel issues such as bad weather, flight cancellations, or car trouble.
• Account for a 1% margin in your budget.  For example, if you have a $5,000.00/month budget, account for an additional $50.00/month in additional expenses.  While this does not seem like much, it is nice to have the extra $50.00 in the account should you need it.  And, when you don’t, and you shouldn’t if you are a disciplined budgeter!  You can add it to your savings at the end of the month.

There really is no such thing as a perfect plan – things change!  One of the best ways we can boost our chances for success, and keep our level of stress low, is by planning in the margins.