What is Project Planning?
Often defined as an umbrella term involving multiple processes, project management specifically refers to the discipline of executing a project within a stipulated time frame. There are definitive stages to the process, namely, defining stakeholders, setting quantifiable objectives, identifying key deliverables, scheduling, and delegating tasks. Other resources that support project planning are human resources, risk management, and communication tools.
Primary components of project planning:
- Scope: This dictates the work required to be done. It accounts for the vision of the project members, the needs of stakeholders, and the consumer’s requirements and helps establish performance goals accordingly.
- Budget: Estimating costs is essential to project management. Project managers account for all the resources required to meet the goals, such as energy and manpower, and draw up a suitable budget.
- Timeline: Owing to constant improvisation, innovation, and various developments, projects run the risk of continuing for a long time. While this may be creatively fulfilling, it is not very feasible. Therefore, a project timeline helps determine the expected time for each phase of the project and also includes a schedule for milestones to be met.
Why is Project Planning Important?
In essence, project planning is crucial to turning intangible ideas into reality. Owing to their structured nature, a project plan facilitates communication and offers a central source of direction and information for project members. It also helps sponsors and key stakeholders identify the primary aims and requirements of a project and act accordingly. Furthermore, project planning is important to delegate tasks, thus streamlining the process to ensure smooth operation and timely operation.
As project management comprises multiple steps, it allows project managers to have control over how the project progresses and identify potential risks if any. This reserves scope for effective monitoring and generates constructive feedback that enriches not only the ongoing project but also future project planning processes.
Can I Learn About Project Planning Online?
Yes, opting for online project planning courses is a smart choice for professionals across industries and of all levels. In recent times, online courses have generated considerable interest in people due to their flexibility of structure and affordable fees. Moreover, they are offered by some of the most renowned global institutions and often offer certification which significantly boosts one’s employability.
What Kind of a Career Can I Get With a Background in Project Planning?
The job outlook for project management is bright, with competitive salaries and immense potential for growth. It is estimated that by 2027, employers will require nearly 88 million professionals engaged in project management roles. Industries, such as construction, energy, engineering, software, information technology, and healthcare, have a considerable need for project management with the job roles being high-paying and prestigious.
Lucrative Career Paths in Project Planning:
- Project Coordinator
- Project scheduler
- Team lead
- Business analyst
- Project manager
- Program Manager
- Scrum master
- Director of program management
Why Take an Online Course at Emeritus?
Each Emeritus online course is designed keeping key learning outcomes in mind by a team of experts. We use the backward design methodology to develop instruction for learners of all ages. This enables us to craft unique, interactive, learning experiences that include a combination of assessments, hands-on activities, skill application, and more.
Emeritus also collaborates with the best universities and faculty around the world to curate the course curriculum that can effectively tackle present challenges in the industry, while preparing you for the trends and risks in the future. Our courses consist of assignments, exams, capstone projects, networking opportunities, a fine balance of practical and theoretical concepts, and the opportunity to learn from top minds in the industry. This adds to the holistic experience we try to provide for each learner.
We are also focused on providing courses that are standardized in quality. This is done by adhering to standards set by a global organization called Quality Matters which is focused on providing quality standards for online and innovative digital teaching and learning environments. The rigorous criteria ensure all our learners invest in quality education that is easily accessible and affordable.