The Project Planning Phase is the second phase in the project life cycle. It involves creating of a set of plans to help guide your team through the execution and closure phases of the project.
The plans created during this phase will help you to manage time, cost, quality, change, risk and issues. They will also help you manage staff and external suppliers, to ensure that you deliver the project on time and within schedule.
The Financial Plan enables you to set a "budget", against which you measure your expenditure. To deliver you project "within budget", you need to produce the project deliverables at a total cost which does not exceed that stated in the budget.
The Financial Plan helps to identify the:
The Quality Plan sets quality targets for your project to ensure that the deliverables produced, meet the needs of your customer.
You can then use it to schedule quality control and quality assurance activities, to assure your customer that the quality targets will be met.
You use the Quality Plan to set quality targets by: