As someone who has managed or worked on a project before, you may already understand the importance of having a project management plan (PMP). For those who are new to project management, or have never created a formal PMP, it is important to understand why having a project plan is crucial for the success of any project.

In this article, we will explore the importance of having a PMP in more detail. We will discuss how a project plan can help you stay organised, manage risks, allocate resources effectively, and ensure that your project is completed on time and within budget. Whether you are managing a small project or a large one, having a PMP is essential to the success of your project, and we hope to provide you with the insights you need to create a plan that works for your specific project.

What is a Project Management Plan?

A project management plan is a detailed document that outlines the scope, objectives, timelines, resources, risks, and deliverables of a project. It serves as a roadmap that guides the project team in executing the project from start to finish. A PMP helps to ensure that everyone involved in the project is on the same page and understands their roles and responsibilities. It also helps to manage expectations and communicate progress to stakeholders. It helps guide decisions and keeps the project sponsor updated. The PMP is a living document which should be updated as the project evolves.

Why is it important?

A project plan is a crucial component of any successful project, regardless of its size or complexity. Here are some of the key reasons why having a project plan is important:

• Provides clarity and direction: A project plan defines the project's scope, objectives, timelines, and deliverables, providing clarity and direction to everyone involved in the project. This helps to ensure that everyone is on the same page and working towards a common goal.

• Ensures effective resource allocation: A project plan helps to allocate resources effectively, including people, time, and budget. This ensures that the project is completed within the allotted time frame and budget while maximizing the use of available resources.

• Helps to manage risks: It identifies potential risks and outlines strategies to mitigate them. This helps to ensure that the project stays on track and that any issues that arise are dealt with in a timely and effective manner.

• Enables effective communication: It provides a clear framework for communication among team members, stakeholders, and other key players. This helps to ensure that everyone is informed about the project's progress, issues, and changes.

• Improves accountability: A project plan clearly defines roles and responsibilities, making it easier to hold team members accountable for their contributions to the project's success.

How to create a Project Plan?

Our first general recommendation is that if you are regularly involved in project management, you create a Project Management Plan template which is suited to your needs. You can re-use this template for each new project and save yourself hours each time. You should also take this opportunity to create a whole-project dashboard. Having a space to manage the project in its entirety is probably the most effective manner to save time over the course of the project. Many project management tools are available. Notion is one of the most popular and effective. 

Firstly, assess your needs. Brainstorm the project with internal collaborators and the client/sponsor. In collaboration with your team, create each of the chapters outlined below. Shared workspaces are effective and software is available to help collaboration. After the document is complete, create an Executive Summary. As the name suggests, the Executive Summary is a high-level summary for decision makers who may not have the time to read your entire document. Summarise the most important points into 3-4 paragraphs and place them at the beginning of your document.

Most Important Chapters

Let’s look at what sections are important in your PMP:

1. Introduction. Describe an overview of your project, the background to its initiation, the project objectives, success metrics, budgets, timeframes and the project structure (including project staff and the project sponsor).

2. Scope Statement. Define what is part of the project. If this is done clearly now it will help avoid scope creep and reduce time wastage later. Make sure to include everything (and exclude everything else) that is relevant. There can be no misunderstandings later between project participants. If the scope changes, be sure to revise this section and inform stakeholders.

3. Deliverables. Something needs to be delivered at the end of the project or at defined points along the way. Clearly describe these.

4. Schedule. Defined start and end points are a non-negotiable part of the project management plan. By definition, a project is temporary in nature. In the PMP you should describe the high level project dates and document where the live, detailed project plan can be found. A visual schedule (such as a Gantt Chart) is a powerful tool for creating understanding. Project software such as Microsoft Project can be used here. The critical path (important items which will delay the project if not complete) must be identified. You will be able to see where resources should be placed to avoid slippage.

5. Budget.Nothing adds stress to a project like a budget. Each portion of the project should have a budget assigned. Both external budget (or fees) and project costs (including staff costs).

6. Quality Management Plan. Quality standards and processes to be followed will need to be documented.

7. Human Resources. Staffing and stakeholders need to be recorded and updated as necessary.

8. Communications. Written, verbal and meeting communication plans and expectations must be documented. Stakeholders may need to be informed or consulted on various aspects of your project and these expectations should be made clear at the outset.

9. Risk Management. If risks are known, they should be listed and their impact and severity estimated. Mitigation should also be planned for risks if they materialize. Parties responsible for management of each risk should be identified. Unmanaged risks are a leading cause of project failure.

10. Procurement. If consultants and contractors are to be employed, this is to be confirmed and the manner of performance and budget management is to be decided.

In conclusion, creating a project management plan is an essential step for any successful project. A well-designed plan helps to ensure that the project stays on track, stays within budget, and meets all of its objectives. The plan should include detailed timelines, clear communication channels, risk management strategies, and a framework for decision-making. By putting in the effort to create a comprehensive project management plan, project managers can reduce the risk of failure and increase the likelihood of success. Remember, a great project management plan is not a one-time exercise, but rather an ongoing process of evaluation and refinement throughout the project's lifecycle.