A plan is made, keeping in mind the various expectations of the stakeholders. Stakeholders work with the project team and contribute to the project's success. Identification of stakeholders gives a clearer image of the real problem, specifically which function or people might be affected by the project. There can be multiple problems then, the project team selects the issue that requires the most immediate attention. A variety of techniques, like surveys or meetings, are used to collect information to assess problems. Work Breakdown Structure ( WBS) helps this process by dividing the whole task into smaller, manageable segments. The process of determining the scope, cost, and resources help estimate the time required to complete the project, the number of people needed, and the skill set required. Project Planning refers to defining fundamentals such as the following: Determination of Scope, Cost, and Resources The document includes the work to be performed, deliverables, and the intended outcome of the project The explanation provides details on what the project intends to solve and who will benefit from the projectĮach task is given a start date, an end date, and provides an estimate of how much time a task would take to complete The definition must include what the project is comprised of, its main aim, what it intends to accomplish, and what marks its closure The project plan serves as a roadmap for the entire process of project management. Planning is the second phase of the project life cycle, where a plan after the initiation phase is made so the process of execution may begin. What is Project Planning?Ī project consists of five different phases: initiation, planning, execution, monitoring and controlling, and closure. Enroll in our PMP Certification Course today and develop a strong foundation in the principles of project management. We’ll also look at some opportunities to learn about these tools in more depth. The following tutorial covers the basics of project planning, its fundamentals, why it’s so important for organizations, some popular tools used for project planning, and basic steps. We can refer to different project planning tools like Gantt chart, PERT chart, or Critical Path Method when forming a project plan. 
There are some necessary steps to project planning that can help yield a successful and efficient process. After all, no one gets points for a brilliant idea if the execution ultimately fails.
It’s the most crucial step in the reduction of risk and project failures. Striving toward a perfect plan will help increase the probability of customer satisfaction and their trust in the organization for future investments. Project planning ensures project success and timely delivery, a crucially important function in any technical organization.
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