He gambles with it all the time. Sometimes he's lucky sometimes not.
Here's some examples.
Not strengthening in summer 2012 was a gamble especially with European games added in(6 players out, one in). After being in a relegation battle players were signed in January 2013. Safety confirmed at game 37.
Another gamble-
14/15 After Pardew left at xmas in mid table, no signings made in the January, Carver given til the end of the season, safety assured game 38.
15/16 McClaren appointed, a gamble in itself, around £60m spent. Bottom 3 from the end of august apart from 2 weeks in December. Does he sack him? Gambles on him turning it round, more money in January on Shelvey, Townsend, Saivet and Doumbia on loan. Results don't improve. 3 week break between games for fa cup 5th round weekend, league cup final and international break. Return from the break, get humped at home to Bournemouth, then sacks him in March. Relegation follows.
There's no plan to it, its all a roll of the dice year after year hoping things will work out.