[Impact of Project Planning on New Project Development]

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Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Abstract

The study focuses over the concept of project planning and how it impacts the success rate of the new project development. How important it is to do planning and making blueprint of any new project before its execution for the timely and accurate achievement of goals associated with the project. Finally it has been tried to describe the different factors with play vital role in the project planning and its overall effect on the new project development.

TABLE OF CONTENT

Acknowledgement2

DECLARATION3

Abstract4

CHAPTER 1: INTRODUCTION6

Background of the research6

Problem Statement6

Rationale7

Purpose of the study7

Significance8

Research Question8

Ethical Concern8

CHAPTER 2: LITERATURE REVIEW10

History11

Phases of Project Management12

Techniques and Tools14

Benefits and Challenges17

CHAPTER 3: METHODOLOGY24

Research Design24

Literature Search24

Keywords25

CHAPTER 4: ANTICIPATED RESULT26

CHAPTER 5: CONCLUSION28

References31

CHAPTER 01: INTRODUCTION

Background of the research

A significant number of projects exceed their original budgets, run late or fail to meet their objectives. Various studies suggest that the overall success rate is not more than 40%, whereas for Information Technology projects the rate of success is even lower. Approximately 50% of construction projects and 63% of all information systems overrun their budget by between 40% and 200%.

Discovering which factors lead to project success has been a subject of interest to project management practitioners and researchers for a long time, and a number of studies have been carried out on the subject.

Problem Statement

This paper sets out the issues related to project success and failure as presented in the selected literature. These issues are then explored in the context of empirical data collected over eight years to assess industry practitioners' views of specific aspects of project planning and related activities, tools and processes. The issues are identified so that a rationale can be established to determine what we need to re-evaluate or re-emphasize in good project management practices.

Rationale

Even before the start of a new project and its development, the necessity lies for the planning period, if one wants their project to be successful at the end. It is obvious that temptation lies in just plunging in sometimes mostly when there is significant number of people involved and the motivation level is high but risk association is pretty elevated in such cases. While starting up a new project with no blueprint of action plan is likely to put the project at risk at very initial stage. Project planning at such time serve as a fundamental instrument for avoiding disappointment and the probability of the success of new project goes higher. In management of any project, planning effectively is utterly required if the success of the new project is the goal of the project ...