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Functions Of Planning : Planning, A Essential Aspect Of Management

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A. Scope – WBS, discuss how scope will be monitored and controlled overview To extract 20MT of gold from XYZ mine in Mongolia in a period of five years. PROJECT PLANNING: Projects involving a few activities, resources, constraints, and inter-relationships can be visualized easily by the human mind and planned informally. However, when a project crosses a certain threshold level of size and complexity, informal planning has to be substituted by formal planning. The need for formal planning is indeed much greater for project work than for normal operations. Without effective planning, there may be chaos (Chandra, 2009). The Project Scope pertains to the work necessary to deliver a product. Requirements and deliverables define the project scope, and it is critical that the stakeholder is in agreement with the information discussed in the proposed plan (Projectscope.net, 2015). Function of planning: Planning, a vital aspect of management, serves several important functions:  It provides a basis for organizing the work on the project and allocating responsibilities to individuals.  It is a means of communication and coordination between all those involved in the project.  It induces people to look ahead.  It instills a sense of urgency and time consciousness.  It establishes the basis for monitoring and control. Project Objectives and Policies: Often, the focus of project planning is on questions like who does what and when. Before such operational planning is done,

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