Nature and purpose of planning
1) Planning Focuses on Achieving
Objectives:
(2) Planning is Primary Function of
Management:
(3) Planning is Continuous:
4) Planning is Futuristic:
(5) Planning Involves Decision
Making:
Nature of planning
6 Planning is goal oriented.
7.Pervasiveness of planning ( It is found at
all levels)
8.Efficiency of planning is measured by
contribution to its objectives.
Collective Planning
Collective Planning can be defined
as the organization of the decisions over
time of a. collection of people (or
"collectivity") whose goals and activities
strongly interfere with each other.
Practical Planning
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A practical plan is one that aligns with
your goals, resources, and constraints,
and that guides your team to execute
effectively and efficiently.
Critical Planning
In project management, the critical plan
is the longest sequence of tasks that must
be completed to execute a project.
The tasks on the critical path are called
critical activities because if they're
delayed, the whole project completion will
be delayed.
Functional planning
Functional planning is developing and
documenting detailed plans to achieve
objectives set at higher organizational
levels.
It includes specifying how resources will
be used to support activities in each
functional area, such as marketing,
production, human resources, finance,
and information technology.
Long Run Planning
Long-term planning involves goals that
take a longer time to reach and require
more steps; they usually take a minimum
of a year or two to complete.
They aim to permanently resolve issues
and reach and maintain success over a
continued period.
Short Run Planning
Short-term planning involves strategies
that focus on the results within a short
time, say a year.
These are the strategies to be used in
achieving specific milestones.
Short-term planning aims for an immediate
period and helps you fix the challenges
you're dealing with in the present.
Scope and Limitations of
planning
. Scope of planning is the practice of
organizing and allocating all aspects of the
work that will be required for a project in
order to complete that project.
The scope is important because it helps
guide project managers, directors, and
supervisors to understand what is, and is
not, part of the project's scope.
Scope and Limitations of
planning
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The limitations of Planning are
furnished below:
Planning Leads to Rigidity. The plans are
rigid in nature and have to be complied
with throughout the organisation.
Such rigidity of plans may be internal as
well as external. Internal rigidity relates to
plans, policies, programs, rules, and
methods, etc.
Scope and Limitations of
planning

Planning May Not Work in a Dynamic
Environment: Planning is based on
anticipating future events, and because
the future is unpredictable and dynamic,
the organization must react to changes.
However, planning will not be able to
adequately predict future events.
Flexibility Planning
Flexible planning is a project management
method that focuses on flexibility, or the
ability to react effectively and make
changes in accordance to sudden
changes or project requirements.
A good example of flexibility is if a customer
suddenly requests a major change to a
project.
Characteristics of a sound plan
Characteristics of a sound financial planning
are:
(1) Simplicity
(2) Foresight
(3) Flexibility
(4) Optimum use of funds
(5) Anticipation of contingencies- the planners
should visualize contingencies or emergency
situations in designing their financial plan and
should keep surplus capital .