You need to recognise that in many projects the plan quality and detail degrades over time into the future. The time-scales vary with different project types and where you are in each phase but a very general rule of thumb I use in the IT world is to have a good level of detail in the next month horizon, less detail over 2-3 month horizon and more of an outline after that.
Sometimes your droop is more dramatic
Ideally your plan should be based on a variety of Estimates, I personally prefer bottom up estimates checked by top down. However, sometimes the plan quality "falls off a cliff" because good bottom-up estimates of latter phases depends on the results of earlier phases. This can often be seen in IT waterfall life-cycles where Requirements Analysis and Systems Design need to be completed before confident bottom up estimates of downstream phases can be produced.Use of PRINCE2 Stages for severe Planner's Droop
A potential solution to plan droop falling off a cliff is to adopt PRINCE2 Stages in your Project. This allows you to "commit" a plan section by section when there is a good justification like the IT waterfall development model above. So in this example, you would have a firm plan (hopefully based on some bottom up estimates out of Initiation) up to the end of Systems Design and a more outline plan for the remainder of the project typically based on top down estimates.The Project Owner approves this firm plan at the end of Initiation and when the project has confirmed the business requirements and system design, this should allow bottom up estimates to be produced for the remaining key phases such as Construction, Testing and Implementation. The plan & budget is adjusted as necessary and a further commitment of the next Stage is made by the Project Owner.
PRINCE2 Stages fit well with formal gated reviews of projects, a topic I will return to in a future post but briefly it is a formal assessment of the project at key points to see it is still viable.
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