Project Planning
Planning the work
Project planning defines scope, schedule, resources, and controls for executing an innovation initiative. Candidates should understand the work breakdown structure (WBS), dependencies, milestones, critical path, and resource loading. Know the difference between a project (temporary, unique deliverable) and ongoing operations, and the role of a charter in authorizing work and setting scope.
Concepts to know
- Scope definition and scope creep control.
- WBS decomposition into manageable work packages.
- Scheduling: dependencies, critical path, float/slack.
- Resource and budget planning; estimating techniques.
- Risk planning and contingency.
- Communication plans and stakeholder engagement.
Traps in questions
Watch for options that treat planning as a one-time upfront activity - good plans are iterative and updated as learning occurs, especially in innovation where uncertainty is high. Another trap is confusing the critical path (longest dependent sequence determining duration) with the most expensive or most important tasks. Also beware scope creep disguised as "flexibility": adding work without adjusting time, cost, or scope is a failure of control, not agility.
Rule of thumb
"Plan at the level of uncertainty you have." Use detailed plans for well-understood work and rolling-wave planning for exploratory work. Any scope change should trigger a re-check of schedule, budget, and risk.
Worked example
A team builds a WBS for a prototype. Task B depends on A; C depends on B; D can run in parallel with C. The critical path runs through A→B→C because it is the longest dependent chain. Delaying D within its float does not move the end date, but delaying B does - so B gets the tightest monitoring.