The 5-year plan of the Association of College and Research Libraries (ACRL) is presented, and the four goals of the plan are summarized: (1) to contribute to the total professional development of academic and research librarians; (2) to enhance the capability of academic and research libraries to serve the needs of users; (3) to promote and speak for the interests of academic and research librarianship; and (4) to promote study, research, and publication relevant to academic librarianship. In addition, the following aspects of the plan, planning process, and implementation are discussed: working principles underlying the plan; the planning model; the planning process; executive summary of goals, objectives and their sources; mission statement; strategic management directions; and implementation (overview, timeline, recommended changes in financial policies, development of the annual operating plan, and dissemination). A Member Needs Report, Strategic Factors Report, Strategic Audit Report, Resources Report, and "A Proposed Planning Process for the Association of College and Research Libraries" are appended. (KM)