HKMU has developed a Rolling Strategic Plan (RSP) to cover the period from 2002/03 to 2006/07.The RSP was developed after carrying out a comprehensive situation analysis, reviewing internal strengths and weaknesses and external opportunities and threats through a stakeholders' participatory approach.

The plan was funded by a grant from the Ford Foundation, and was produced through the facilitation of the Bureau of Industrial Co-operation (BICO) of the University of Dar Es Salaam .

As part of the plan, a vision statement was agreed, which constitutes a compelling picture of what HKMU aspires to become within the 5 years of the plan:

To become a model private university in Africa that provides high quality education, conducts research and provides service to the public.

In order for HKMU to realise this vision in a dynamic and uncertain environment, 13 strategic objectives have been developed, as shown in the table below. Strategies have been devised to address each strategic objective, and also the series of detailed activities for each strategy that will be implemented in each of the 5 years. Strategic Planning Committee oversees the implementation, monitoring and evaluation of the programme.