Project Planning and Budgeting

Abstract

Project planning is one of the important aspects of R&D functions. This chapter gives an overview of internal resources and organizational objectives of project planning. The end results of project planning are project deliverables. The project deliverables feature scheduling, planning human resource, communication methods, and risk management. An excellent project planning needs an effective budgeting system and review process. Furthermore, this chapter gives an objective analysis of end-to-end mechanics of budgeting process, modern planning, and alternative approaches. At the end, this chapter covers quantitative methods like AHP and GANTT charts, which objectively assess the process and outcome of a project.

Learning Objectives: To understand project planning definition and stages; to describe R&D project planning and the planning process; to present a holistic picture on the budgeting system, traditional budgeting systems and its categories, mechanics of the budgeting process, modern planning and budgeting systems, and alternative approaches.