Experts Answer: What is a Project Plan?

What is a Project PlanWhat is a project plan is considered to be a specific formal document that could be designed in order to guide both control and execution of a particular project.

This document is a key which will make a project successful, what is more, it is also essential for starting any project not only in a field of financial operations. What is a project plan is mostly used by the various organizations with a goal to communicate the project expectations as well as to document the stakeholder products, to control the settled schedule and process of delivery, or even to forecast and manage the potential risks.


The Introduction is supposed to provide an appropriate overview of the project, thus, it includes a high-quality description of a certain project and represents its objectives and benefits. There is no need to support the Introduction with the special excessive details as the next essential parts could show this information. However, this section is predicted to contain a summarized background of the project that must be implemented.

Project Management Approach

The chapter is predicted to be written in a form of an Executive Summary, therefore, it is mostly used to represent the available management approaches needed for the implementation of such a project. It should also explain the roles and major duties of the individuals within an organization, and include the list of companies that will provide the necessary resources to stimulate the success of a particular project.

Cost Management Plan

The certain section determines the management of costs throughout a life cycle of a particular project, moreover, it establishes the general format and the other standards that deal with the measurement of the available costs. These guidelines must be imperative for all team members with a target to stimulate the project’s effective implementation. The Cost Management Plan could also identify the responsible individuals for taking a control over the mentioned costs, or those who will gain a possibility to approve the potential changes related to the budget of the project.

Quality Management Plan

This section determines the role of the particular management with a goal to be confident that the project expectations fit all settled standards. All these expectations should be identified as it could help provide a special understanding of the most important tasks, and define the work that must be planned. In addition, this part of the general plan describes the quality roles or duties, and also the processes of quality control as well as the appropriate quality monitoring.

Risk Management Plan

Such a chapter must include a scrupulous description of the major approaches which were chosen to define and struggle with the potential risks connected with the project’s completion. It should consist of not more than two paragraphs which could summarize the particular methods that are essential for managing the potential risks.


The main goal of this part is to identify the existed communication needs as well as the way of the informational distribution that may increase the project’s chances to become successful. The appropriate communication within an organization may help avoid the various problems connected with the realization of the settled objectives. Lastly, this section could be included as a specific appendix or the other document.