This Masters Degree Project applied the concepts of Strategic Planning and Community Economic Development to an economic development strategy in a project-specific context--Cold Lake, Alberta. At the time of the Study in 1992, the proactive search for the right forms of community development was constrained by efforts to accommodate a high growth rate. The fractured and undefined approach to community economic development was a genesis of longstanding organizational attitudes and priorities, and unique social and economic circumstances.The Perks/Kawun/Macdonald strategic model was applied to the planning operation; this embraced four workshops, a SWOT analysis, production of a vision statement, and development of a mission, strategies, and actions. Project-specific adaptations made to the strategic model propose that communities formulate goals and actions based on identified issues that are critical to the communitys future, and that they use prophetic-type vision statements as one means to engender leadership, community commitment, and improved organizational capacities.An account of the design and execution of the Cold Lake project forms the major part of the MDP. Second, an opinion survey of key participants highlights a critical assessment of the effectiveness of the strategy process conducted in Cold Lake. The Study concludes that the application of strategic planning to community economic development renders good value for the community if careful consideration is given to the project-specific context.