A development plan is a key component of a performance management plan because it guides performance improvement. Create a short-term development plan (1-2 years) and a long-term development plan (3-5 years) for yourself. In your plan, address these items: Development objectives, How skills will be acquired, A timeline for acquisition, and Standards and measures for accessing improvement. Keep the following in mind: You are writing your own development plan. First, complete an assessment of your professional needs and/or deficiencies and career plans (e.g., complete MBA degree) and then write the plan. Assume you are submitting the development plan to your faculty member, the manager. With the exception of a cover page, no citations or references are required for this assignment. This should be an honest assessment of your professional needs/deficiencies and career plans. It can be written in a paragraph form or it can be bulleted in format with expanded comments.