Importance of Planning Process in Project Management

Introduction

Project management is the practice of arranging and organizing funds and assets to accomplish certain purposes. The planning process is crucial for a project to be effective and fully achieve its goals and objective. An effective planning process clearly describes each and the activities expected to take place in the project. It is of importance for planning to be given special priority by the fact that it is the foundation for any successful project.

Finest parts of the project management methodology

The idea of drafting a project charter is remarkable since it defines the scope of both the project and individual participants. A project charter limits the chances of deviating from the project goals and objectives. Furthermore, project participants will understand the project in detail placing them in a better position to adequately satisfying their customers. Including teamwork in the project, planning is terrific because it defines how participants are expected to conduct themselves and how conflicts are supposed to be resolved.

My views on the concept of the project charter

It is important to create a project charter since it gives a vivid description of the extent of the project. It extensively defines the client’s expectations with an expected deliverable that helps the workforce to direct their efforts towards the achievements of those expectations. Moreover, it explains the institutional goals and objectives expected to be met by the end of the project.

My views on forecasting, approximating, and budgeting

Estimating the number of needed employees with each employee projecting the total time they require to fully complete their tasks is of great importance as it helps in drafting a budget. The setback comes in handy when an individual participant gives wrong estimations that eventually delay the completion of the project. Additionally, any underestimation or overestimation may negatively impact the budgeting process. Budgeting has greatly been handled, by expenditure considered on both internal and external aspects of the projects. However, I feel that employees should be included in the process since they have a great idea of what amount of expenditure is required by different segments of the project. Furthermore, the budget should include reserve money that can be used in case of eventualities.

My negative encounter when working as a team

I have encountered various challenges when working as a team with some being resolved while others not. I often encounter a conflict of interest that leads to unnecessary arguments with my colleagues. Fortunately, we always put aside our interests; tackle the issue objectively by weighing each other’s points of arguments to attain a consensus. This always works well, especially if both parties appreciate each other.

Importance of lesson captured and customer feedbacks

Lesson learned can be used to improve future projects by capitalizing on the strong points while improving on the weaknesses. Furthermore, it helps in drafting viable projects that effectively realize its objectives. Views from customer feedback can be incorporated in similar future projects for effective customer satisfaction. Furthermore, customer feedbacks help develop good relationships with customers that increase an organization’s competitiveness in winning another similar project.

My views on creating a closeout report

In my perspective, a closeout report is of great importance since its description of the project performance, lesson learned and recommendations can be used as a basis for future improvement of such similar projects. Furthermore, it can account for expenditure incurred during the entire project.

Conclusion

I would conclude by stressing that planning is fundamental for a project to be successful. Not only a plan but a good plan that covers every aspect of the project is the basic idea behind a successful project. The planning process should include persons involved in the project and also ensure that they clearly understand what the project entails and what they are expected to do.