MB301:Entrepreneurship

and Project Management

(CA1)
Name: Rohit Singh
Makaut roll no.: 13600921108
Sip Company: GreenField Financials
 PROJECT PLANNING
Project planning is a procedural step in project management, where required documentation is
created to ensure successful project completion. Documentation includes all actions required to
define, prepare, integrate and coordinate additional plans. The project plan clearly defines how
the project is executed, monitored, controlled and closed.

Enterprises often have an information technology project planning guide that identifies the
processes used. Tools used for the scheduling parts of a plan include Gantt charts and PERT
charts.

Project planning requires an in-depth analysis and structuring of the following activities:

•Setting project goals

•Identifying project deliverables
•Creating project schedules
•Creating supporting plans
 IMPORTANCE OF PROJECT PLANNING

Planning enables project managers to turn an intangible idea into reality. Key purposes of
planning include the following:

• Facilitate communication and provide a central source of information for project personnel
• Help the project sponsor and other key stakeholders know what is required
• Identify who will perform certain tasks, and when and how those tasks will happen
• Facilitate project management and control as the project progresses
• Enable effective monitoring and control of a project
• Manage project risk
• Generate feedback useful for the next project planning phase.
 COMPONENTS OF PROJECT PLANNING
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The Three major parts of Project Planning:

• Scope: The scope determines what a project team will and will not do. It takes the
team's vision, what stakeholders want and the customer's requirements and then
determines what's possible. As part of defining the project scope, the project manager
must set performance goals.
• Budget: Project managers look at what manpower and other resources will be required
to meet the project goals to estimate the project's cost.
• Timeline: This reveals the length of time expected to complete each phase of the project
and includes a schedule of milestones that will be met.
 STEPS OF PROJECT PLANNING
1.Define stakeholders: Stakeholders include anyone with an interest in the project. They can include the customer or
end user, members of the project team, other people in the organization the project will affect and outside
organizations or individuals with an interest.
2.Define roles: Each stakeholder's role should be clearly defined. Some people will fill multiple roles, however.
3.Introduce stakeholders: Hold a meeting to bring stakeholders together and unify the vision behind the project. The
topics covered should include scope, goals, budget, schedule and roles.
4.Set goals: Take what is gleaned from the meeting and refine it into a project plan. It should include goals and
deliverables that define what the product or service will result in.
5.Prioritize tasks: List tasks necessary to meet goals and prioritize them based on importance and interdependencies.
A Gantt chart can be helpful for mapping project dependencies.
6.Create a schedule: Establish a timeline that considers the resources needed for all the tasks.
7.Assess risks: Identify project risks and develop strategies for mitigating them.
8.Communicate: Share the plan with all stakeholders and provide communications updates in the format and
frequency stakeholders expect.
9.Reassess: As milestones are met, revisit the project plan and revise any areas that are not meeting expectations.
10.Final evaluation: Once the project is completed, performance should be evaluated to learn from the experience and
identify areas to improve.
 PHASES OF PROJECT PLANNING: Grow Our Social Media
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Projects typically pass through five phases. The project lifecycle includes the
following:

 INITIATION
 PLANNING
 EXECUTION
 MONITORING AND MANAGEMENT
 CLOSURE AND REVIEW
 GREENFIELD FINANCIALS:
Increasing turnover’ and ‘Growing Business’ are not the same. There is a
lot more into it. in reality surviving becomes a challenge. Our team helps
you with the road-map that leads to your professional dreams.

SERVICES:
1. Accounting Services
2. Taxation Services
3. Start-up Services
4. Management Services
 INITIATION
The start of the project, in which our area of work was introduced to us and
goals for what we are working was told to us. We have been asked to learn and
research about the Jewellery Market in India and make a report on which
‘Franchise or Aggregator’ model should the small jewellery shop should choose
to survive in this highly competition and rapidly changing market.
 PLANNING
As we know our work, We started to plan our work in phases, We prepared
our phase chart as:

 General Knowledge sourcing

 Product Knowledge
 Market Survey
 Study of Franchisee Model
 Study of Aggregation Model
 Report
 EXECUTION
After planning, We started to work as phase manner in phase 1 we collected all the
information about jewellery market like about Indian jewellery market, jewellery products,
problem faced by small jewellery shops etc. and in phase 2 we collected the information
about the product costing, swot analysis of the industry etc. Now, We are in phase 3 of
market survey in which we visit every small jewellery shops and asked some question which
we have prepared earlier.
 Monitoring
Every week-end we have to submit our progress report to the
manager, If any fault is found we re do the work and complete it
according to the plan.
 Closure
At the end of the internship we have to make a report, in that report we have to
discuss what strategy should small Jewellery shop use to survive in this competition
market.