Project planning: Project planning is a procedural step in project management, where required documentation is created to ensure successful project completion. It is at the heart of the project life cycle and tells everyone involved where you’re going and how you’re going to get there. Documentation includes all actions required to define, prepare, integrate, and coordinate additional plans. The project plan clearly defines how the project is executed, monitored, controlled, and closed.
According to X. L. Martine, “A project planning establishes the duration of the project, the resources needed to complete each activity and the required sequence of performance of each job.”
Project planning requires an in-depth analysis and structuring of the following activities:
- Setting project goals,
- Identifying project deliverables,
- Creating project schedules,
- Creating supporting plans.
Followings are the elements of project planning:
Planning the project work: The activities relating to the project must be spelled out in detail.
Planning the manpower: Manpower Planning which is also called as Human Resource Planning consists estimating or projecting the number of personnel with different skills required overtime or for a project, and detailing how and when they will be acquired.
Planning of money: The expenditure of money in a time-phased manner must he budgeted.
Planning the information system: The information required for monitoring the project must be defined.
For a good project plan, the above elements must be in the planning process.