(a) Within sixty (60) days after the entry of the final termination order or decree for both parents, the Court may convene a hearing to review the proposed placement plan of the agency responsible for placement of the child. The placement plan, and any amendment to it, shall be submitted to the Court and the parties ten (10) days prior to the hearing. The plan shall include the following:

(1) a description of the agency’s progress toward arranging an adoptive placement for the child;

(2) where adoptive parents have not already been selected, a schedule and description of steps to be taken to place the child for adoption; and

(3) a description of any barriers preventing placement of the child for adoption and how they should be overcome.