A well-planned project should proceed through five central phases: Initiation-->> Planning-->> Execution-->>Controlling-->>Closeing. Project planning is the phase where the basis for managing the project is developed into a plan of action.

The project planning phase involves a process by which you develop a formal, approved plan that guides both project execution and project control. A project plan may be presented in summary or it may be detailed.
The promary uses of a project plan are:
1. To document planning assumptions and decisions
2. To facilitate communication among stakeholders
3. To document approved scope, cost and schedule baselines