MGT 30725 PROJECT MANAGEMENT LESSON 3 IMPORTANCE OF

MGT 30725 PROJECT MANAGEMENT LESSON 3: IMPORTANCE OF PROJECT PLANNING & DEVELOPMENT OF PROJECT MANAGEMENT PLAN Conducted By: Dr. Madhu Fernando, PMP Chairman, GIPM Project Management Campus Director/CEO Innova Strategies Doctor of Business Administration - DBA, (Swinburne University, Australia) Master of Engineering - MEng. (RMIT University Australia) Initiator / Founder CEO PMI Colombo Sri Lanka Chapter 1

PLANNING & PROJECT PLANNING A plan is a set of decisions made on actions to be taken to reach a goal. It is the product of the process of planning. Planning is an active process and it is opposite of simply allowing events to unfold. A plan can be said to exist when a point in the planning process has been reached. Plan (appoint in the planning process) is coherent set of operations designed to meet a given goal. It is determined with sufficient clarity that may be acted upon. A plan can be a very formal document, or it can simply be the clear understanding of the actions you are going to undertake. Both plan and planning is a never-ending activity. Your plan will be shaped and reshaped by new forces and new information you discover as you proceed with your action. Planning involves vision, discovery, decision-making and

PROJECT PLAN A project plan is "A formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summary or detailed. " "a statement of how and when a project's objectives are to be achieved, by showing the major products, milestones, activities and resources required on the project”.

PROJECT PLAN. WHAT IT IS AND IS NOT ? Initiat e Plan Execu te Contro l Close Project Plan means devising and maintaining a workable scheme to accomplish the business/ service/ development need that the project was undertaken to address. • Project Plan is the work plan, not the work. • Project Plan is a definition of needed work and resources

Project Plan components Project Planning involves a series of steps to be taken to convert an idea or aspiration into a feasible plan of action. A Project Plan contains information that will help complete the project successfully. Success factors can be quickly summarized by answering the following questions: What and Why? - A project plan will contain a description of the project, what is the Vision and why the project is being executed. Who? - Who will be involved and what will be their responsibilities within the project When? - When will the project happen and also major milestones How? - How the project will be executed, meaning how it will be executed and controlled. Normally this information refers mostly to the controlling of the project as the detailed project actions will be detailed in other documents such as the IT plan, the Procurement plan, the Construction plan, etc.

DEVELOP A PROJECT MANAGEMENT PLAN The Project Management Plan document the strategies used to manage the project, which is selected by the Project Management Team It will document all the plans and will describes how work will be executed to accomplish the project objectives 6

PROJECT MANAGEMENT PLAN TEMPLATE Project Life-cycle and the phases Project objectives Project Scope All the subsidiary plans from all knowledge areas; scope management plan, communication management plan, risk management plan, human resource plan, etc All baseline plans ; including, cost baseline, time baseline, quality baseline. Key management reviews Roles and Responsibility Matrix, communication matrix, and all relevant plans

PROJECT MANAGEMENT PLAN WILL INCLUDE THE FOLLOWING: Project Strategy : how work will be planned and executed Project Life-cycle and the phases Project objectives Project Scope Project Time Plan Project Budget Project Quality Plan Human Resource Plan Key management reviews Roles and Responsibility Matrix, Communication Matrix, Project Risk Register and any other planning documents

PROJECT PLANNING CASE STUDY PMI Project of the Year 9