Project Planning Process

1. Understand the Project Objectives: The very first step in a project planning is understanding the project objectives. Objectives are results to be achieved. They are the end result of project planning. They should be clearly understood and defined.
2. Identify Key Project Stages: A stage is the major sub division of the project. Normally, the key stages in a project are formulation, planning, implementation and termination.
3. Prepare Work Breakdown Structure: It identifies various activities to be performed in each stage of project. The Work Breakdown Structure (WBS) is used for breaking down the work into smaller elements. Generally a hierarchical Work Breakdown Structure is prepared. It is a detailed listing of steps required to complete a project.
4. Determine Logical Sequence of Activities: The logical sequence of activities are determined by the use of Network Analysis and other tools. The critical path for the project is determined.
5. Estimate Time and Resource Requirements: Accuracy in estimates of time, cost and other resources is important for project planning. Historical data, experience and experts can be helpful. Quantitative techniques and computer simulations can also help. The size of the activity and the efforts needed to complete it determine time and resource requirement.
6. Allocate Responsibilities for each Activity: Each activity of the project needs to be owned by an individual or department in the project. Responsibilities are carefully allocated for project activities. A record of the responsibilities allocated is kept.
7. Finalize Project Plan: The project schedule is optimized for the sequenced activities of all the stages of the project. The resources are allocated to each activity. The project plan is finalized.