This document discusses planning for information systems projects. It notes that around 30-40% of IT projects run over budget, fail to meet specifications, or fail to provide organizational benefits. Proper project management is important and includes planning, assessing risk, estimating resources, organizing work, and controlling the project. Key aspects of project planning include developing a project charter, preliminary plan, and baseline plan. The project plan should include the project background and objectives, work breakdown structure, schedule and milestones, management structure, budget, risks, and requirements specification. Requirements can be expressed at different levels of abstraction and should define what the system needs to do, not how it will be implemented.