If some of these terms are new to you, you can get up to speed with this post on project management terms. You write a project plan during the project planning stage of the project life cycle, and it must be approved by stakeholders before a project can move on the execution stage. Its crucial role lies in ensuring the project stays on course. The takeaway: project plan best practicesĪ project management plan is a formal document that defines how a project is going to be carried out by outlining the scope, goals, budget, timeline and deliverables of a project.5 things you need to know before creating a project management plan.What are the 7 components of a project management plan.What are the 5 stages of a project management plan?.Let’s get started! START CREATING FOR FREE We’ll also showcase easy-to-customize project plan templates you can create today with our user-friendly drag-and-drop editor. In this guide, we’ll explore how to create and design a successful project management plan. That’s why it’s so important to create a comprehensive project management plan before your project gets off the ground. It’s pretty frustrating for everyone involved. Have you ever been part of a project that didn’t go as planned?