There is a very good chance that your project will be successful if you have carried out an extensive and thorough exercise.

Let’s take a look at the other side of planning now that we know why it’s important. What happens if we fail to plan or carry it out badly? As a follow-up, what are we supposed to do to effectively plan a project? Let’s try to provide an answer that is as straightforward as possible.

The scope, schedule, cost, quality, resources, communication, risks, procurement, and stakeholders are all covered in the order that they are covered in the planning processes because doing so would result in the creation of baselines that are part of the Project Management Plan. In the beginning, a series of processes are followed, including the creation of the WBS, the project schedule, the budget, and plans for managing quality, resources, and communication.

After that, a Risk Register is used to conduct the Risk Analysis, which identifies the Cost and Time contingencies. For other risks, as well as those that have been eliminated or mitigated, Risk Response Plans have also been developed.

Before moving on to risk management, the stakeholders collaborate throughout the exercise to freeze the scope (and prevent scope creep during execution), reach agreement on the schedule, and establish the project budget. After completing the Risks Analysis, iterations are carried out on the first cycle to arrive at the final Scope, Schedule, and Cost because the impact of risks can alter these essential project components. The project’s performance measurement baselines—the scope, schedule, and cost—usually should not change, but if they do, a new baseline will be required.

In addition to the Management Plans for all of the Knowledge Areas that make up the Project Execution Plan, one of the main goals of the planning process is to create baselines. A plan of this kind can be the road map to project success once completed, but it needs a purpose and commitment from the team and project manager.