Another dynamic planning methodology

I have become interested in something I'll call dynamic planning.  I am not sure if that's the right term, because various language is out there, sometimes rooted in particular institutions or industries and sometimes someone's intellectual property.  It will have to do for now.

Dynamic planning (or whatever it should be called) is the practice of maintaining an ever changing strategic plan.  Instead of doing some big planning process every couple or few years that results in a Holy Binder that is faithfully implemented (or ignored), a living plan is constantly adjusted and updated.  I really like this approach for a few reasons:

• You are more likely to actually use and benefit from your plan if you are paying attention to it (which you would have to do if you are reviewing and updating the thing)
• A frequently updated plan is never out of date or obsolete
• It might end up being less effort to constantly update a dynamic plan, compared to the work of creating a new plan from scratch every few years.

I got the term "Dynamic Planning" from the Dynamic Planning Institute, which is a PLA initiative that involves several months of online study and a three day course in Washington, DC.  I can't participate but as I study the Institute from afar, it seems to include a mix of stuff including design thinking and community engagement.

The word "agile" seems to be commonly used in this context, especially in connection with systems development and other STEM (science/technology/engineering/math) activities.  

"Real Time Strategic Change"  is a phrase used by one Jake Jacobs.  His website identifies principles that support change in real time  They are shown in one of those "management circle of life" diagrams with no beginning and end, but they include

• building understanding (learning and also teaching others what you know)
• making reality a key driver (sort of like an internal / external environmental scan)
• engaging and including (leading and also inviting input)
• preferred futuring (the planning part, done by looking at the present state and imaging the best future)
• creating community (individual and group performance)
• fast results (planning the future and being there, in real time.)

Could there be drawbacks or risks to a dynamic planning approach?  I seem to recall that ever changing plans have doomed more than one army; there is certainly a risk to never seeing a plan through to a conclusion.  Leadership Freak identifies six problems with flipflopping, including confusion, delay and loss of leadership credibility.  Okay, we are warned.  Be careful out there.