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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