Page 54 - DMGT302_FUNDAMENTALS_OF_PROJECT_MANAGEMENT

Unit 3: Project Planning

The planning cycle brings together all aspects of planning into a coherent, unified process. Notes
Mission statements give concrete expression to the vision statement, explaining how it is
to be achieved.

Detailed planning is the process of working out the most efficient and effective way of
achieving the aim that you have defined.
Goals are specific, and time-based points of measurement.

Project environment always influencing factor for decision-making.
Strategies can be formulated after clear diagnosing the environment.

3.8 Keywords

Competition: Business entities should always fight for survival. When there are new entrants in
the market there will be more competition. Hence, project planning is necessary to face
competition and to become successful project manager.
Evaluation: This can be stated as last stage of project management process.

Optimistic Time: It is the minimum possible time required to accomplish a task, assuming
everything proceeds better than is normally expected.
Scarcity: Scarcity of the resources always forms as the basis for project management. When
products are scarce and there will be increase in demand for the products.
SWOT Analysis: Strengths, Weaknesses, Opportunities and Threats simply termed as SWOT.
Technology: Changes in technology also necessitates project planning. Technological
advancements are useful for the development of project manager. More opportunities will be
available to manager.

3.9 Review Questions

1. What is meant by project planning process? Explain different stages of it.
2. What are the different dimensions of project planning process?
3. Describe, in brief, the importance of time planning in project planning process.
4. Explain, in brief, the project planning process.

5. Describe the ways of managing the planning process.
6. Discuss the planning process for middle sized projects.
7. Describe the strategic planning for projects.
8. Briefly explain the process mapping.

Answers: Self Assessment

1. Project 2. Future
3. Commercial 4. Time
5. Contract 6. False
7. True 8. False

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