ABSTRACT
Traditional wisdom is that planning and analysis are important; the better the planning in a project, the more successful the project will be. Research as well as the experience of project and program managers has confirmed the importance of planning and that time spent on planning activities will reduce risk and increase project success. On the other hand, it is also thought that inadequate analysis and planning will lead to a failed project. If poor planning has led to failed projects, then perhaps trillions of dollars have been lost globally. This obviously has a major impact on projects and the economy as a whole.
