The Importance of Planning in Project Management

The Importance of Planning in Project Management

Planning is one of the elements of management, next to organizing, motivating and control. The objective of the project plan is to describe, in the most detailed manner, the potential of the project, prior to its organization and implementation. 

The basic aim of the article is to preset the importance of the planning process in project management. It draws attention to the determinants and characteristics of the planning part and its particular importance in the project management process.

Basic principles of planning in project management

The main purpose is to plan time, cost and resources adequately to estimate the work needed and to effectively manage risk during project execution. As with the Initiation process group, a failure to adequately plan greatly reduces the project's chances of successfully accomplishing its goals. 
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Project planning generally consists of:

  • determining how to plan ( by level of detail or Rolling Wave planning)
  • developing the scope statement
  • selecting the planning team
  • identifying deliverables and creating the work breakdown structure 
  • identifying the activities needed to complete those deliverables and networking the activities in their logical sequence
  • estimating the resource requirements for the activities
  • estimating time and cost for activities
  • developing the schedule
  • developing the budget
  • risk planning
  • gaining formal approval to begin work

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