Human Resource Planning is the process of forecasting an organization's future human resource needs and determining how to meet those needs. It aims to balance the demand and supply of manpower while controlling costs. The key steps in HRP are forecasting demand for human resources both internally and externally, analyzing gaps between current and future needs, and developing implementation plans to address gaps through recruitment, training, redeployment or downsizing. Accurately forecasting demand and supply can be challenging given uncertainties, and HRP seeks to prepare organizations for changes in the business environment and workforce.