Fixed planning is for a certain length of time, such as four, five, six, or seven years. A set plan establishes certain goals that must be met within the plan period. Except in crises, physical goals and budgetary outlays do not vary. This strategy achieves the goals that were set forth in the plan. It does not try to beat the market by buying at low prices and selling at high prices. Instead, it tries to buy near the beginning of the planning period when prices are low and sell just before the end of the period when prices are high. The advantage of this approach is that it requires little or no foresight. It can be applied to any situation where achievement of a goal within a given time limit is important, for example: building projects, research studies, or service contracts. Disadvantages include lack of flexibility and risk of over-committing resources/time/energy. Fixed planning can be used by organizations when they know what they want to achieve by some date and how much resource they need to devote to this task. They may also know how much resource other people will need to achieve these goals. By setting fixed goals and determining how much resource will be required, organizations can prepare adequately for their activities. For example, a university may choose to fix the amount of money it wants to spend on construction projects during a given period. It may also decide how many students should receive scholarships.