The feedback loop

The final step in the planning stage of a project’s life is getting your plan approved by the sponsor and steering committee.

Remember how we said that the project charter only authorizes planning to begin within some high-level boundaries of scope, schedule, and budget?

Now, you need to validate your plan against that project charter. 

If there is a significant deviation from the ±20% tolerance you might have agreed at that time, the project’s business case should be revisited.

How often do you think that happens?

I can tell you that a well-conducted planning process quite often reveals an under-appreciation of the scope, time, and costs of delivering a project. 

This implies that the business case was either rushed or advanced, with an incomplete understanding of the risks and issues involved.

Unfortunately, I can also tell you that too many organizations shrug their shoulders and tip the extra resources into the project anyway.

This is less than ideal.

After all, the purpose of the business case was to value the relative costs, benefits, and risks of proceeding with the project. 

Suppose the delivery costs and risks to the organization significantly change due to the new information revealed in the planning process. In that case, you need to properly analyze what impact this will have on project outcomes.

And that is not the purpose of the project plan – that is the purpose of the business case, so back you go!

That said, even the most meticulous project plans will have their margin for error – usually ±10%, depending on the context.

Therefore, a great plan does not guarantee project success; it ultimately makes the project much easier to manage.