Planning in Program ManagementAdd to favorites
Planning is determining what needs to be done, by whom, and by when, in order to fulfill one’s assigned responsibility. It is important to prepare a plan keeping in view the necessities of the organization or project. It serves the following three (3) critical functions: 
- Helps management to clarify, focus, and research their businesses 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.
They are nine (9) major components of the planning phase. These are: 
- Objective: a goal, target, or quota to be achieved by a certain time
- Program: the strategy to be followed and major actions to be taken in order to achieve or exceed objectives
- Schedule: a plan showing when individuals or group activities or accomplishments will be started and/or completed
- Budget: planned expenditures required to achieve or exceed objectives
- Forecast: a projection of what will happen by a certain time
- Organization: design of the numbers and kinds of positions, along with corresponding duties and responsibilities, required to achieve or exceed objectives
- Policy: a general guide for decision methods for carrying out policy
- Procedures: a detailed method for carrying out a policy
- Standards: a level of individual or group performances defined as adequate or acceptable
AcqLinks and References:
-  Website: Wikipedia – Planning
-  Harold Kerzner (2005) “Project Management” Wiley & Sons
- Website: About.com – Strategic Planning Resources
- Planning Phase: Planning, Programming, Budget and Execution (PPBE) Process