What does a management plan provide?

• A. A legal contract with the manager
• B. A list of maintenance vendors
• C. A summary of financial statements
• D. Goals and yearly task cycle approved by the board

Answer: (D)

A management plan provides a roadmap for the association’s activities over the year by outlining goals and the yearly task cycle that the board approves. It translates board-level objectives into concrete, time-bound actions, assigns responsibilities, and aligns scheduling with the budget and operational priorities. This ensures everyone—board and management—tracks progress, stays coordinated, and can measure outcomes against the plan.

It isn’t a legal contract with the manager, which would spell out terms, compensation, and legal obligations. It isn’t merely a list of maintenance vendors, which would belong to procurement or vendor management documents. And it isn’t a summary of financial statements, which are separate financial reports.