Week 1: Beginning of the planning phase

Understanding planning phase component

Benefit of project planing

• Planning is a significant part of ensuring a project's success, so let's take some time to discuss why it's so important. Planning is important for any project, large or small.
• While planning your project, you and other members of the team will determine the processes and workflows needed to meet your goals and put together ideas about how to make the project a success.
• Every project is different, so new and different approaches may be just the thing you need.
• Planning helps you map out the full project. It helps you understand the work needed to achieve your goals. Planning also helps coordinate efforts and timelines with other teams, contractors, and vendors.
• Planning gives you time to identify and prepare for risks that could impact your project. Those might include things like a delay in the timeline, the departure of a critical team member, or a change in project direction from a primary stakeholder. Planning also gives you the chance to brainstorm ways to mitigate or address those risks.
• The planning phase can help you get "buy-in" from key members of the project team. Getting buy-in means that you've gained their support for your plans. Planning also demonstrates to stakeholders that the team is taking care to start the project with a detailed plan.
• Benefits of planning is teamwork, which will help you push your project across the finish line. Planning together creates a shared understanding among all parties involved in the project.

Launching planning phase

• Planning phase consist of three stages:
  • Schedule
  • Budget
  • Risk Management plan

Schedule:

• The schedule is basically a timeline of the project. It includes the start date, the end date, and the dates for things that will happen in between. You will use time estimation techniques to determine these dates.
• It should also include important dates during the project execution phase

Budget: