Lesson 2 of 10By Ishan Gaba
Last updated on Apr 1, 202118022Project planning ensures project success and timely delivery, a crucially important function in any technical organization. Striving toward a perfect plan will help increase the probability of customer satisfaction and their trust in the organization for future investments. It’s the most crucial step in the reduction of risk and project failures. After all, no one gets points for a brilliant idea if the execution ultimately fails.
There are some necessary steps to project planning that can help yield a successful and efficient process. We can refer to different project planning tools like Gantt chart, PERT chart, or Critical Path Method when forming a project plan.
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’ll also look at some opportunities to learn about these tools in more depth.
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A project consists of five different phases: initiation, planning, execution, monitoring and controlling, and closure. 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. The project plan serves as a roadmap for the entire process of project management.
Project planning involves:
Project Planning refers to defining fundamentals such as the following:
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Project planning ensures monitoring of the budget and schedule at every step. The project plan includes a schedule that guides team members in completing their tasks and helps them in knowing which tool they will need and when. It also helps the team stay engaged for higher project performance. The project plan ensures there is the active participation of all the team members and allows them to have an opportunistic approach towards their work.
Project planning ensures timely testing of the output at every step. When successfully implemented, everyone on the project team can foresee problems before they happen. This creates efficiencies and ensures the successful execution of the plan.
Additionally, project planning helps analyze, prioritize, and ensure an appropriate plan for all kinds of risks. Proper planning ensures that if there is more than one risk, they can be prioritized and dealt with accordingly. This step ensures that nothing will fall apart and the plan makes it easy for the project team to remember all the crucial details and deadlines.
Project planning tools help everyone concerned keep track of project requirements and deadlines. Some of the most popular project planning tools include the following:
There are seven essential project planning steps:
The stakeholders might include the project manager, the customer, or the team. The first step is to identify and meet the stakeholders to discuss their expectations and establish the project scope.
Project scope involves determining a list of specific project goals, deliverables, budgets, and deadlines. Project scope helps in establishing boundaries of the project and responsibilities of each team member.
The objectives are set and prioritized once the expectations of stakeholders become certain. More exquisite detail to initial ideas is given, which serves as a reference point throughout the project.
Deliverables are the reason why the projects are created. It is one of the most critical steps of the project planning to determine what these deliverables will be and how they will be delivered in time.
The project schedule outlines when different tasks of a project are supposed to begin and end. The project schedule helps measure the project progress and set up progress reports.
Identifying risks and considering how to deal with them is an essential step in project planning. Specific steps to prevent risks from happening or limiting their impact should be considered.
There must be a communication plan to update the stakeholders regarding the project progress. This can be done monthly, weekly, or daily so that all involved members can monitor the progress.
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Even the most promising plans will fall flat if they aren’t properly executed. The best way to ensure success is to employ one of the proven project management methodologies already used by some of today’s biggest and most agile companies. Best of all, you can upgrade your skills online by enrolling in Simplilearn’s comprehensive PMP Certification Training Course today!
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Ishan Gaba is a Research Analyst at Simplilearn. He is proficient in Java Programming, Data Structures, and Project Management. Graduated in Information Technology, Ishan is also passionate about writing and traveling.
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