Planning
‘Planning is one of the most important project management and time management techniques. Planning is preparing a sequence of action steps to achieve some specific goal. If you do it effectively, you can reduce much the necessary time and effort of achieving the goal.’(1)
A plan is like a map. When following a plan, you can always see how much you have progressed towards your project goal and how far you are from your destination. Knowing where you are is essential for making good decisions on where to go or what to do next.
Purpose of Plan
Just as no two organizations are alike, so also their plans. It is therefore important to prepare a plan keeping in view the necessities of the enterprise. A plan is an important aspect of business. It serves the following three critical functions:
• Helps management to clarify, focus, and research their business's or project's development and prospects.
• Provides a considered and logical framework within which a business can develop and pursue business strategies over the next three to five years.
• Offers a benchmark against which actual performance can be measured and reviewed.
1. http://www.time-management-guide.com/planning.html
2. http://en.wikipedia.org/wiki/Planning
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