Planning involves identifying problems, gathering information, analyzing alternatives, selecting plans, and checking progress. There are different types of plans including hierarchical, frequency of use, time frame, and organizational scope plans. Hierarchical plans can be strategic, administrative, or operational. Time frame plans include short, medium, and long range plans. Organizational scope plans cover corporate, business, and functional levels. In conclusion, effective planning is an important project and time management technique that can reduce the effort needed to achieve goals.