Gap analysis: Template, definition, and examples

Gap analysis is a strategic planning tool that enables organizations to identify discrepancies between their current performance and their desired goals across various domains such as project management, product development, and strategic planning. It involves assessing the current state, defining the desired future state, identifying gaps, and planning actions to bridge those gaps. The process is typically broken down into five steps: identifying key areas for improvement, defining the desired state, determining the current state, identifying gaps, and planning improvements. Gap analysis can be tailored to different contexts, such as process, skills, product, and financial gap analysis, and is a crucial component for managers and strategists aiming for continuous improvement. A gap analysis template is provided to streamline the process, emphasizing the importance of prioritizing key actions and assigning ownership to ensure effective implementation. The exercise can serve as a long-term process improvement tool, a single retrospective exercise, or a strategic product document, with the ultimate goal of closing gaps over time and enhancing organizational performance.