Hewlett Packard is currently in the works of drafting its 2011 plans for the organization, denying rumors of executive shake-ups anytime soon. A “bold” plan, as it was called, is this year’s blueprint for HP, testing the leadership of its new CEO Leo Apotheker, who replaced Mark Hurd when he  exited HP’s premises with a shocking scandal.

Apotheker joined HP in September, the same period when shares in the market significantly fell.  Now it’s time for the ex-SAP head to show the tech world what he is made of. Our own Kit Doston related her views on what the CEO should analyse this 2011.  According to undisclosed sources, HP is planning to invest more in its software, networking and storage businesses, while promoting a key executive to vice chairman.

In an official statement sent through email by HP’s spokesperson, the assumption of naming another lead was dropped: “Speculation today about HP is being passed off as fact and is not accurate. HP is formulating a bold, solid plan for its future, a plan it will share with its employees, shareholders, customers and partners in due course, and certainly not in response to speculation.”

While specific plans are not yet divulged to the public, HP has already set its tentacles when it signed a health record contract worth $30 million in services for 52 months with Texas Health and Human Services Commission. The goal of this deal is to create a state-wide medical health information exchanges.

Another interesting report noted HP’s announcement on designing the modern day “Dick Tracy wristwatch”. It is going to be a lightweight, wearable device that soldiers in the field can use to view digital maps and other data on a flexible plastic screen that won’t shatter or crack like glass.

Expect that HP will take on some rampant updates and changes in the next few months. This initiative to move forward has already been noted as early as Q4 of last year—when HP maintained its margin within the market, but drops PC sales in the same period.