So, one can consider it as the most important ingredient in the success of a project. It defines and communicates the scope and objectives, helps to control the schedule, budget, and delivery, identifies and manages risks, and finally defines a communication plan for stakeholders. Related Article: 12+ Free Project Tracking Templates for Excel | Project TrackersĪ project plan is a roadmap for every stakeholder of the project. So, project managers can easily define the realistic objectives of the project.įurther, understand the requirement of skill set for the project team, resources to complete the project, and cost estimate of the project. Further, it is necessary to make an effective project plan instead of just fulfilling the formality.Īs the project plan lets the project managers think about every aspect of the project beforehand. However, it is way more than just scheduling project tasks.Ī project started without a proper project plan has more than a 90% probability of failure. Typically, project managers consider the project plan similar to a project timeline or Gantt chart. Also, it portrays the best approach and action plan to achieve the project goal.įurther, it must include answers to all the major questions related to required resources, budget management, schedule, and vulnerabilities. In short, a project plan contains the scope, objectives, and goals of the project. Such as project integration, scope, schedule, cost, quality, resources, risk, procurement, and stakeholders’ management. The project planning process focuses on defining the scope, objectives, and deliverables of the project.įurther, it includes the action plan of managing all the project knowledge areas. A project plan is an output of the project planning process.
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