What is Project Planning?
Project planning is a critical function of Project Management, during which the Project Manager will detail the steps needed to complete a project successfully.
Project planning entails:
- Defining the project scope – what the project will and won’t deliver
- Setting objectives and goals
- Developing a schedule for the project, including key milestones and deadlines
- Estimating costs (budget) and allocating resources
- Assessing potential risks to the project and planning mitigation strategies for these
- Assigning tasks and responsibilities to team members
Why is effective Project Planning so important?
A well-planned project means that team members know and understand their tasks and deadlines, thus improving the chance of project success. Uncertainty is minimised and people have a clear track to follow. You can also be assured that you have the right number and type of people for the jobs, and if not, you can take steps to fill resourcing gaps.
Planning also helps in estimating costs accurately and monitoring expenses, which prevents budget overruns.
The old saying that “businesses don’t plan to fail, they fail to plan” runs equally true for projects. Without a blueprint of where you’re heading and how, then you’re running the risk of a very confusing, frustrating project which has a higher chance of failure.
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